Chevron Co. (NYSE:CVX) Position Reduced by Kennedy Investment Group

Kennedy Investment Group reduced its position in shares of Chevron Co. (NYSE:CVX) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,705 shares of the oil and gas company’s stock after selling 163 shares during the period. Kennedy Investment Group’s holdings in Chevron were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 260 shares in the last quarter. Gibson Wealth Advisors LLC increased its holdings in shares of Chevron by 0.7% in the second quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after buying an additional 76 shares in the last quarter. RiverFront Investment Group LLC lifted its position in shares of Chevron by 12.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock valued at $10,863,000 after acquiring an additional 7,759 shares during the last quarter. Farmers National Bank grew its holdings in shares of Chevron by 0.5% in the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock worth $7,202,000 after acquiring an additional 208 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Chevron during the second quarter worth $491,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.3 %

Shares of Chevron stock opened at $155.79 on Thursday. The stock has a 50-day simple moving average of $153.67 and a 200-day simple moving average of $151.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $279.97 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.