Donaldson Capital Management LLC Cuts Position in Chevron Co. (NYSE:CVX)

Donaldson Capital Management LLC reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,637 shares of the oil and gas company's stock after selling 5,590 shares during the quarter. Chevron comprises about 1.7% of Donaldson Capital Management LLC's portfolio, making the stock its 27th largest holding. Donaldson Capital Management LLC's holdings in Chevron were worth $37,534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new position in Chevron during the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company's stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new position in Chevron during the 3rd quarter worth approximately $35,000. Finally, Worth Asset Management LLC purchased a new position in Chevron during the 1st quarter worth approximately $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX traded down $1.31 on Tuesday, hitting $156.28. 5,476,452 shares of the company's stock were exchanged, compared to its average volume of 8,601,997. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.54. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $155.11 and a 200-day moving average price of $151.83. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analysts' expectations of $50.93 billion. During the same quarter in the previous year, the company posted $4.09 EPS. The firm's quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron's previous quarterly dividend of $1.51. Chevron's payout ratio is 57.39%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Royal Bank of Canada raised their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. Wells Fargo & Company raised their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an "overweight" rating in a research note on Thursday, April 4th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a "hold" rating on the stock in a research note on Friday, April 5th. Piper Sandler dropped their price objective on shares of Chevron from $188.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, March 14th. Finally, Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average price target of $183.55.

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.