Chevron Co. (NYSE:CVX) Stock Position Lowered by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,933 shares of the oil and gas company’s stock after selling 588 shares during the period. Perennial Investment Advisors LLC’s holdings in Chevron were worth $2,018,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 2.4% during the fourth 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 buying an additional 746,806 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at $3,017,750,000. Fisher Asset Management LLC lifted its position in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock worth $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 8.3 %

NYSE CVX opened at $143.10 on Friday. 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 1-year low of $135.37 and a 1-year high of $168.96. The firm’s fifty day simple moving average is $157.38 and its 200-day simple moving average is $154.10. The company has a market capitalization of $251.95 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued 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 last year, the business earned $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. Chevron’s payout ratio is 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James dropped their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.