Gulf International Bank UK Ltd Trims Position in Chevron Co. (NYSE:CVX)

Gulf International Bank UK Ltd lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,746 shares of the oil and gas company’s stock after selling 1,372 shares during the period. Chevron makes up approximately 0.5% of Gulf International Bank UK Ltd’s portfolio, making the stock its 28th biggest holding. Gulf International Bank UK Ltd’s holdings in Chevron were worth $19,806,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Flynn Zito Capital Management LLC increased its position in shares of Chevron by 7.8% in the fourth quarter. Flynn Zito Capital Management LLC now owns 3,123 shares of the oil and gas company’s stock worth $452,000 after acquiring an additional 225 shares in the last quarter. Schnieders Capital Management LLC boosted its stake in Chevron by 3.6% during the 4th quarter. Schnieders Capital Management LLC now owns 44,905 shares of the oil and gas company’s stock valued at $6,504,000 after acquiring an additional 1,570 shares during the last quarter. Apriem Advisors boosted its stake in Chevron by 35.5% during the 4th quarter. Apriem Advisors now owns 13,579 shares of the oil and gas company’s stock valued at $1,967,000 after acquiring an additional 3,560 shares during the last quarter. Lineweaver Wealth Advisors LLC boosted its stake in Chevron by 10.1% during the 4th quarter. Lineweaver Wealth Advisors LLC now owns 22,263 shares of the oil and gas company’s stock valued at $3,226,000 after acquiring an additional 2,050 shares during the last quarter. Finally, Convergence Financial LLC boosted its stake in Chevron by 6.7% during the 4th quarter. Convergence Financial LLC now owns 10,375 shares of the oil and gas company’s stock valued at $1,503,000 after acquiring an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVX shares. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $154.99 on Thursday. 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 cap of $278.53 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm’s 50 day simple moving average is $152.52 and its 200-day simple moving average is $151.31. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced 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 quarter in the prior year, the business posted $3.45 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Chevron 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.