Chevron Co. (NYSE:CVX) Position Lowered by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC reduced its position in Chevron Co. (NYSE:CVX) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,202 shares of the oil and gas company’s stock after selling 1,100 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Chevron were worth $1,478,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Raymond James cut 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. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Chevron Trading Up 1.7 %

Shares of NYSE:CVX opened at $137.68 on Friday. The stock has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day moving average price of $153.54 and a 200 day moving average price of $153.42. 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 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 last year, the firm earned $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

About Chevron

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.