Rockefeller Capital Management L.P. Trims Stock Position in Chevron Co. (NYSE:CVX)

Rockefeller Capital Management L.P. decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,048,170 shares of the oil and gas company's stock after selling 73,591 shares during the period. Rockefeller Capital Management L.P. owned 0.06% of Chevron worth $151,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Norges Bank bought a new stake in Chevron in the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the fourth quarter worth approximately $1,036,302,000. Bank of New York Mellon Corp raised its holdings in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Amundi lifted its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Invesco Ltd. boosted its holdings in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after purchasing an additional 964,426 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were 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 $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

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Chevron Trading Down 0.6 %

CVX traded down $0.77 during trading on Tuesday, reaching $134.55. The company had a trading volume of 9,310,651 shares, compared to its average volume of 7,891,352. 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 business has a 50 day simple moving average of $154.99 and a 200-day simple moving average of $153.82. The stock has a market cap of $236.88 billion, a P/E ratio of 13.84, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

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

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.08%. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.50.

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.