Valeo Financial Advisors LLC Reduces Position in Chevron Co. (NYSE:CVX)

Valeo Financial Advisors LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,716 shares of the oil and gas company’s stock after selling 1,232 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Chevron were worth $6,332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC grew its stake in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $155.32 on Friday. The stock has a fifty day moving average price of $151.86 and a 200 day moving average price of $150.87. The stock has a market cap of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm earned $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s payout ratio is currently 67.08%.

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.