Hendley & Co. Inc. Sells 1,063 Shares of Chevron Co. (NYSE:CVX)

Hendley & Co. Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,560 shares of the oil and gas company’s stock after selling 1,063 shares during the quarter. Chevron comprises approximately 3.9% of Hendley & Co. Inc.’s investment portfolio, making the stock its 6th biggest position. Hendley & Co. Inc.’s holdings in Chevron were worth $9,928,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in Chevron during the third quarter worth approximately $35,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter worth approximately $33,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $161.89 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $154.79 and a two-hundred day moving average price of $152.32. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a market cap of $300.67 billion, a P/E ratio of 14.25, a PEG ratio of 2.46 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research note on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.60.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

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.