DB Fitzpatrick & Co Inc Decreases Stake in Chevron Co. (NYSE:CVX)

DB Fitzpatrick & Co Inc trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,527 shares of the oil and gas company’s stock after selling 184 shares during the quarter. Chevron accounts for about 1.3% of DB Fitzpatrick & Co Inc’s investment portfolio, making the stock its 23rd biggest position. DB Fitzpatrick & Co Inc’s holdings in Chevron were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVX. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value 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. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 1.4 %

Shares of CVX stock opened at $161.54 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The stock has a fifty day moving average of $153.93 and a two-hundred day moving average of $151.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Raymond James increased their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.