Chevron Co. (NYSE:CVX) Shares Sold by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,933 shares of the oil and gas company’s stock after selling 588 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Chevron were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank acquired a new position in Chevron in the 4th quarter worth $3,017,750,000. Fisher Asset Management LLC boosted its position in Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Chevron by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock valued at $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Barclays reduced their price objective 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. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $143.10 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The firm has a market capitalization of $251.95 billion, a PE ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93. 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 business’s fifty day moving average price is $157.38 and its two-hundred day moving average price is $154.10.

Chevron (NYSE:CVX) last posted its 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 quarter in the prior year, the firm posted $3.45 earnings per share. On average, research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.78%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.