Van Cleef Asset Management Inc Trims Position in Chevron Co. (NYSE:CVX)

Van Cleef Asset Management Inc reduced its position in Chevron Co. (NYSE:CVX) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,143 shares of the oil and gas company’s stock after selling 175 shares during the period. Van Cleef Asset Management Inc’s holdings in Chevron were worth $2,338,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter worth approximately $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.9 %

NYSE:CVX opened at $156.57 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business’s 50-day simple moving average is $152.83 and its 200 day simple moving average is $151.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $281.36 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the firm earned $3.45 EPS. As a group, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

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.