Banco de Sabadell S.A Sells 1,229 Shares of Chevron Co. (NYSE:CVX)

Banco de Sabadell S.A cut its holdings in shares of Chevron Co. (NYSE:CVX) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,945 shares of the oil and gas company’s stock after selling 1,229 shares during the period. Chevron makes up 1.7% of Banco de Sabadell S.A’s portfolio, making the stock its 25th biggest position. Banco de Sabadell S.A’s holdings in Chevron were worth $2,163,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blueprint Investment Partners LLC grew its stake in shares of Chevron by 75.9% in the fourth quarter. Blueprint Investment Partners LLC now owns 4,779 shares of the oil and gas company’s stock worth $692,000 after acquiring an additional 2,062 shares during the period. Mosley Wealth Management boosted its holdings in Chevron by 9.2% in the fourth quarter. Mosley Wealth Management now owns 4,961 shares of the oil and gas company’s stock worth $772,000 after purchasing an additional 418 shares during the last quarter. Guardian Partners Inc. bought a new stake in Chevron in the 4th quarter worth approximately $10,349,000. KLP Kapitalforvaltning AS purchased a new stake in Chevron during the 4th quarter valued at $75,635,000. Finally, Umpqua Bank lifted its holdings in shares of Chevron by 7.3% during the 4th quarter. Umpqua Bank now owns 21,669 shares of the oil and gas company’s stock valued at $3,400,000 after buying an additional 1,469 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

Shares of CVX opened at $164.37 on Friday. The business’s 50 day moving average is $156.29 and its 200 day moving average is $152.57. 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 12-month low of $135.37 and a 12-month high of $167.11. The company has a market capitalization of $289.39 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 firm posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Analyst Ratings Changes

A number of analysts recently commented on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.