One Capital Management LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

One Capital Management LLC lowered its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,667 shares of the oil and gas company's stock after selling 2,224 shares during the quarter. One Capital Management LLC's holdings in Chevron were worth $11,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its stake in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after purchasing an additional 3,933 shares in the last quarter. State Street Corp raised its stake in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. LPL Financial LLC raised its stake in shares of Chevron by 5.7% during the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company's stock valued at $463,560,000 after purchasing an additional 171,089 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron during the fourth quarter valued at about $594,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Down 0.7 %

NYSE:CVX opened at $150.93 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $265.73 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.46 and a beta of 1.08. The stock's fifty day simple moving average is $153.65 and its 200-day simple moving average is $151.61.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business earned $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is 70.37%.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and increased their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Finally, UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Chevron has an average rating of "Moderate Buy" and an average target price of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Chevron Profile

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.

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