Logan Capital Management Inc. Sells 2,947 Shares of Chevron Co. (NYSE:CVX)

Logan Capital Management Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 175,731 shares of the oil and gas company's stock after selling 2,947 shares during the period. Chevron accounts for about 1.1% of Logan Capital Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Logan Capital Management Inc.'s holdings in Chevron were worth $25,453,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. TFB Advisors LLC lifted its position in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. raised its position in shares of Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares in the last quarter. Meridian Financial Partners LLC boosted its position in shares of Chevron by 0.5% during the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after acquiring an additional 67 shares during the last quarter. Finally, Western Pacific Wealth Management LP grew its stake in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.1%

Shares of CVX opened at $138.52 on Monday. The stock's 50-day moving average price is $147.91 and its 200-day moving average price is $152.07. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $243.88 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.94%. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. 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 research note on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.25.

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.

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