Chevron Co. (NYSE:CVX) Shares Sold by Kapstone Financial Advisors LLC

Kapstone Financial Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,781 shares of the oil and gas company’s stock after selling 255 shares during the period. Kapstone Financial Advisors LLC’s holdings in Chevron were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Commerzbank Aktiengesellschaft FI raised its stake in shares of Chevron by 383.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 519,200 shares of the oil and gas company’s stock worth $75,201,000 after buying an additional 411,859 shares in the last quarter. Patten Group Inc. grew its holdings in Chevron by 0.6% during the fourth quarter. Patten Group Inc. now owns 24,389 shares of the oil and gas company’s stock worth $3,533,000 after acquiring an additional 144 shares during the period. Scott & Selber Inc. raised its position in Chevron by 1.2% in the fourth quarter. Scott & Selber Inc. now owns 13,451 shares of the oil and gas company’s stock worth $1,948,000 after acquiring an additional 157 shares in the last quarter. Alta Capital Management LLC lifted its holdings in Chevron by 6.4% in the fourth quarter. Alta Capital Management LLC now owns 38,672 shares of the oil and gas company’s stock valued at $5,601,000 after acquiring an additional 2,341 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $153.05 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $269.46 billion, a PE ratio of 15.75, a P/E/G ratio of 1.46 and a beta of 1.11. The firm has a 50 day simple moving average of $153.35 and a 200-day simple moving average of $151.58. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.79 EPS 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. 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. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

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.