Standard Family Office LLC Trims Stake in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Standard Family Office LLC cut its stake in Chevron Co. (NYSE:CVX – Free Report) by 57.1% in the fourth quarter, HoldingsChannel reports. The fund owned 378 shares of the oil and gas company’s stock after selling 504 shares during the period. Chevron accounts for approximately 0.1% of Standard Family Office LLC’s investment portfolio, making the stock its 29th largest holding. Standard Family Office LLC’s holdings in Chevron were worth $55,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Chevron during the 4th quarter worth about $17,554,000. Wealth Dimensions Group Ltd. raised its holdings in Chevron by 3.5% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 6,201 shares of the oil and gas company’s stock worth $898,000 after purchasing an additional 208 shares during the period. Tower Research Capital LLC TRC raised its holdings in Chevron by 28.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 95,375 shares of the oil and gas company’s stock worth $13,814,000 after purchasing an additional 20,977 shares during the period. Transce3nd LLC purchased a new position in Chevron during the fourth quarter worth approximately $582,000. Finally, Trajan Wealth LLC grew its holdings in Chevron by 7.6% in the fourth quarter. Trajan Wealth LLC now owns 33,567 shares of the oil and gas company’s stock valued at $4,862,000 after purchasing an additional 2,372 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $137.68 on Monday. 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 business’s 50 day moving average price is $153.54 and its 200 day moving average price is $153.45. The company has a market cap 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 one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last posted 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 in the previous year, the firm posted $3.45 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. 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 dividend payout ratio (DPR) is presently 70.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Check Out Our Latest Stock Report on Chevron

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

About Chevron

(Free Report)

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.

See Also

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