Geneva Partners LLC Lowers Position in Chevron Co. (NYSE:CVX)

Geneva Partners LLC trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,258 shares of the oil and gas company's stock after selling 7,782 shares during the quarter. Geneva Partners LLC's holdings in Chevron were worth $1,083,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Chevron during the 4th quarter valued at about $270,000. Naples Money Management LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $255,000. Tanager Wealth Management LLP increased its position in shares of Chevron by 1.7% in the fourth quarter. Tanager Wealth Management LLP now owns 5,295 shares of the oil and gas company's stock valued at $790,000 after buying an additional 86 shares in the last quarter. RIA Advisory Group LLC raised its stake in shares of Chevron by 5.4% during the 4th quarter. RIA Advisory Group LLC now owns 2,646 shares of the oil and gas company's stock worth $395,000 after buying an additional 135 shares during the period. Finally, Zhang Financial LLC lifted its position in shares of Chevron by 4.3% during the 4th quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company's stock valued at $513,000 after buying an additional 142 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.5 %

Shares of NYSE:CVX traded up $2.43 during trading on Friday, hitting $160.00. The company's stock had a trading volume of 7,592,840 shares, compared to its average volume of 8,519,150. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The business has a 50 day moving average price of $155.44 and a two-hundred day moving average price of $151.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market capitalization of $297.16 billion, a PE ratio of 14.08, a P/E/G ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts' expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron's revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.09 EPS. As a group, research analysts expect that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Chevron's previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron's dividend payout ratio is presently 57.39%.

Insider Activity at Chevron

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Scotiabank upgraded Chevron from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Jefferies Financial Group raised shares of Chevron from a "hold" rating to a "buy" rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an "overweight" rating and a $203.00 target price for the company. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Truist Financial lowered their target price on Chevron from $168.00 to $156.00 and set a "hold" rating on the stock in a report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $184.75.

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.

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