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

Sanctuary Advisors LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,957 shares of the oil and gas company’s stock after selling 25,811 shares during the quarter. Sanctuary Advisors LLC’s holdings in Chevron were worth $57,675,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. KLCM Advisors Inc. boosted its position in shares of Chevron by 0.8% in the 4th quarter. KLCM Advisors Inc. now owns 27,179 shares of the oil and gas company’s stock worth $3,937,000 after purchasing an additional 224 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Chevron by 1.2% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 17,487 shares of the oil and gas company’s stock worth $2,533,000 after purchasing an additional 203 shares in the last quarter. Total Investment Management Inc. boosted its position in shares of Chevron by 4.2% in the 4th quarter. Total Investment Management Inc. now owns 2,595 shares of the oil and gas company’s stock worth $376,000 after purchasing an additional 104 shares in the last quarter. Americana Partners LLC boosted its position in shares of Chevron by 179.4% in the 4th quarter. Americana Partners LLC now owns 253,221 shares of the oil and gas company’s stock worth $36,677,000 after purchasing an additional 162,577 shares in the last quarter. Finally, Kerusso Capital Management LLC acquired a new stake in shares of Chevron in the 4th quarter worth $1,576,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

Shares of CVX stock opened at $155.32 on Monday. The stock has a market cap of $279.12 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The business has a 50-day simple moving average of $151.86 and a 200-day simple moving average of $150.80. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

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

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVX shares. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.