Sand Hill Global Advisors LLC Has $8.82 Million Stock Position in Chevron Co. (NYSE:CVX)

Sand Hill Global Advisors LLC cut its holdings in Chevron Co. (NYSE:CVX) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,905 shares of the oil and gas company’s stock after selling 1,091 shares during the period. Sand Hill Global Advisors LLC’s holdings in Chevron were worth $8,821,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron during the 4th quarter worth approximately $1,036,302,000. Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. Amundi increased its holdings in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Finally, Invesco Ltd. raised its position in Chevron by 6.9% during the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after acquiring an additional 964,426 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Chevron Stock Down 2.4 %

NYSE:CVX opened at $139.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The firm’s 50 day simple moving average is $157.04 and its 200 day simple moving average is $154.21. The company has a market cap of $246.15 billion, a PE ratio of 14.38, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the company earned $3.45 earnings per share. On average, research analysts anticipate 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 was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 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.