Cambiar Investors LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Cambiar Investors LLC reduced its position in Chevron Co. (NYSE:CVX) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 379,782 shares of the oil and gas company’s stock after selling 8,079 shares during the period. Chevron accounts for about 2.2% of Cambiar Investors LLC’s portfolio, making the stock its 12th largest position. Cambiar Investors LLC’s holdings in Chevron were worth $55,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned 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 target price of $174.13.

Chevron Stock Performance

NYSE CVX opened at $155.76 on Tuesday. The stock has a fifty day simple moving average of $152.21 and a 200-day simple moving average of $150.82. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.91 billion, a PE ratio of 16.02, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 in the previous year, the business earned $3.45 EPS. Equities analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.39%. Chevron’s dividend payout ratio (DPR) is 67.08%.

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.