New York Life Investment Management LLC Has $32.53 Million Holdings in Chevron Co. (NYSE:CVX)

New York Life Investment Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,623 shares of the oil and gas company’s stock after selling 2,109 shares during the period. New York Life Investment Management LLC’s holdings in Chevron were worth $32,534,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new stake in Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter valued at approximately $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. 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, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.9 %

Shares of CVX stock opened at $154.99 on Thursday. The stock 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 company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a fifty day moving average price of $152.52 and a 200 day moving average price of $151.31. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Company 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.