Chevron Co. (NYSE:CVX) Position Cut by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,294 shares of the oil and gas company's stock after selling 5,257 shares during the period. Chevron makes up about 0.7% of Beacon Pointe Advisors LLC's investment portfolio, making the stock its 27th biggest position. Beacon Pointe Advisors LLC's holdings in Chevron were worth $60,586,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVX. McIlrath & Eck LLC raised its stake in Chevron by 5.8% in the 3rd quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock valued at $211,000 after purchasing an additional 78 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Chevron by 9.0% in the third quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock valued at $503,000 after buying an additional 281 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in shares of Chevron by 6.2% during the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock valued at $811,000 after buying an additional 320 shares during the period. Wealthquest Corp boosted its position in Chevron by 2.3% during the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock worth $782,000 after acquiring an additional 118 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd grew its stake in Chevron by 4.5% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock worth $3,254,000 after acquiring an additional 950 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's 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 owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVX shares. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Finally, Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $165.27.

Chevron Stock Up 1.4 %

NYSE CVX traded up $1.97 during trading hours on Friday, reaching $138.23. 8,788,702 shares of the company traded hands, compared to its average volume of 7,973,387. The company has a 50 day moving average of $150.11 and a two-hundred day moving average of $152.59. The stock has a market capitalization of $243.36 billion, a PE ratio of 14.23, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. 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 (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.95%. Chevron's dividend payout ratio is presently 70.37%.

Chevron Company 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.