Chevron Co. (NYSE:CVX) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. trimmed its holdings in Chevron Co. (NYSE:CVX) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 863,476 shares of the oil and gas company’s stock after selling 2,336 shares during the period. TD Asset Management Inc.’s holdings in Chevron were worth $125,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Fairway Wealth LLC grew its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of NYSE:CVX opened at $165.93 on Wednesday. The firm has a market cap of $292.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a fifty day simple moving average of $156.67 and a 200 day simple moving average of $153.01. 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 $167.82.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $3.45 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.