Excalibur Management Corp Cuts Stake in Chevron Co. (NYSE:CVX)

Excalibur Management Corp decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,205 shares of the oil and gas company’s stock after selling 176 shares during the quarter. Chevron makes up 1.0% of Excalibur Management Corp’s investment portfolio, making the stock its 20th largest position. Excalibur Management Corp’s holdings in Chevron were worth $2,637,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Core Wealth Partners LLC raised its stake in Chevron by 3.7% in the fourth quarter. Core Wealth Partners LLC now owns 8,912 shares of the oil and gas company’s stock valued at $1,291,000 after purchasing an additional 316 shares in the last quarter. Ausdal Financial Partners Inc. raised its stake in shares of Chevron by 88.7% during the fourth quarter. Ausdal Financial Partners Inc. now owns 12,990 shares of the oil and gas company’s stock worth $1,881,000 after acquiring an additional 6,107 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth approximately $29,000. TrueMark Investments LLC boosted its stake in shares of Chevron by 9.3% in the 4th quarter. TrueMark Investments LLC now owns 24,728 shares of the oil and gas company’s stock valued at $3,582,000 after purchasing an additional 2,098 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. grew its holdings in shares of Chevron by 40.7% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 9,447 shares of the oil and gas company’s stock valued at $1,368,000 after purchasing an additional 2,731 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $165.93 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.82. The company has a 50-day moving average of $156.67 and a two-hundred day moving average of $153.01. The stock has a market cap of $292.14 billion, a P/E ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 in the previous year, the business earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.