LVM Capital Management Ltd. MI Cuts Stake in Chevron Co. (NYSE:CVX)

LVM Capital Management Ltd. MI lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,210 shares of the oil and gas company's stock after selling 40,568 shares during the quarter. LVM Capital Management Ltd. MI's holdings in Chevron were worth $8,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Highline Wealth Partners LLC grew its stake in shares of Chevron by 15.0% in the 4th quarter. Highline Wealth Partners LLC now owns 643 shares of the oil and gas company's stock worth $93,000 after acquiring an additional 84 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Chevron by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 47,839 shares of the oil and gas company's stock worth $6,929,000 after purchasing an additional 1,161 shares in the last quarter. Franklin Street Advisors Inc. NC increased its stake in Chevron by 1.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 19,097 shares of the oil and gas company's stock valued at $2,766,000 after buying an additional 346 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of Chevron by 6.7% during the 4th quarter. Ridgewood Investments LLC now owns 3,659 shares of the oil and gas company's stock worth $530,000 after buying an additional 230 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Chevron by 49.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 20,607 shares of the oil and gas company's stock worth $2,985,000 after buying an additional 6,822 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group lifted their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average target price of $174.60.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded up $2.99 during mid-day trading on Friday, hitting $153.29. The company had a trading volume of 11,072,996 shares, compared to its average volume of 7,553,708. The stock's 50-day moving average price is $153.69 and its 200-day moving average price is $151.04. The company has a market capitalization of $275.48 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron's dividend payout ratio (DPR) is currently 71.65%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.