Coastline Trust Co Sells 4,684 Shares of Chevron Co. (NYSE:CVX)

Coastline Trust Co trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 26.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,174 shares of the oil and gas company’s stock after selling 4,684 shares during the period. Coastline Trust Co’s holdings in Chevron were worth $1,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz SE acquired a new stake in shares of Chevron in the fourth quarter valued at about $9,369,000. Nicholas Company Inc. increased its holdings in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares during the period. Applied Finance Capital Management LLC increased its stake in Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after acquiring an additional 2,755 shares during the period. Cerity Partners LLC lifted its stake in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after purchasing an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter valued at approximately $594,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CVX shares. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.50.

Chevron Stock Up 1.7 %

Shares of Chevron stock opened at $137.68 on Friday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $242.39 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The business has a 50-day moving average of $153.54 and a two-hundred day moving average of $153.42.

Chevron (NYSE:CVX) last released its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm posted $3.45 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

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