Marietta Investment Partners LLC Sells 440 Shares of Chevron Co. (NYSE:CVX)

Marietta Investment Partners LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,531 shares of the oil and gas company’s stock after selling 440 shares during the quarter. Marietta Investment Partners LLC’s holdings in Chevron were worth $2,105,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Umpqua Bank grew its stake in shares of Chevron by 7.3% during the 4th quarter. Umpqua Bank now owns 21,669 shares of the oil and gas company’s stock valued at $3,400,000 after purchasing an additional 1,469 shares during the period. Sfmg LLC lifted its holdings in Chevron by 2.9% in the 4th quarter. Sfmg LLC now owns 9,784 shares of the oil and gas company’s stock worth $1,417,000 after purchasing an additional 274 shares in the last quarter. Intellus Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $551,000. Sei Investments Co. lifted its holdings in Chevron by 2.3% in the 4th quarter. Sei Investments Co. now owns 646,755 shares of the oil and gas company’s stock worth $93,670,000 after purchasing an additional 14,427 shares in the last quarter. Finally, Plancorp LLC lifted its holdings in Chevron by 6.0% in the 4th quarter. Plancorp LLC now owns 10,998 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 624 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $164.37 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $156.29 and its 200-day simple moving average is $152.51. The company has a market capitalization of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.