LSV Asset Management Sells 42,988 Shares of Chevron Co. (NYSE:CVX)

LSV Asset Management reduced its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,549 shares of the oil and gas company's stock after selling 42,988 shares during the period. LSV Asset Management's holdings in Chevron were worth $38,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the third quarter worth approximately $26,000. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company's stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at $33,000. Finally, Legacy Financial Group LLC purchased a new stake in Chevron in the 3rd quarter worth about $43,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares of the company's stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,247 shares of company stock worth $2,154,164. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVX shares. Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 30th. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a "hold" rating on the stock in a research report on Friday, April 5th. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the company an "overweight" rating in a report on Thursday, April 18th. Jefferies Financial Group upgraded Chevron from a "hold" rating to a "buy" rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Finally, Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an "overweight" rating and a $203.00 target price for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.35.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.05 on Monday, hitting $162.30. 8,427,958 shares of the company were exchanged, compared to its average volume of 8,484,045. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company's 50 day moving average price is $157.41 and its two-hundred day moving average price is $151.48. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization of $301.43 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.55 EPS. Research analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 16th. Chevron's dividend payout ratio is 59.98%.

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.