Davidson Investment Advisors Sells 25,521 Shares of Chevron Co. (NYSE:CVX)

Davidson Investment Advisors reduced its position in shares of Chevron Co. (NYSE:CVX) by 10.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,726 shares of the oil and gas company’s stock after selling 25,521 shares during the quarter. Chevron accounts for about 1.6% of Davidson Investment Advisors’ investment portfolio, making the stock its 14th biggest holding. Davidson Investment Advisors’ holdings in Chevron were worth $31,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Chevron by 35.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 68,105 shares of the oil and gas company’s stock valued at $9,864,000 after acquiring an additional 17,746 shares during the last quarter. Ramsay Stattman Vela & Price Inc. raised its stake in Chevron by 6.8% during the 4th quarter. Ramsay Stattman Vela & Price Inc. now owns 35,614 shares of the oil and gas company’s stock worth $5,158,000 after acquiring an additional 2,261 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Chevron by 2.1% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,794 shares of the oil and gas company’s stock valued at $694,000 after buying an additional 98 shares during the last quarter. BKM Wealth Management LLC increased its position in Chevron by 0.6% in the fourth quarter. BKM Wealth Management LLC now owns 14,238 shares of the oil and gas company’s stock worth $2,062,000 after purchasing an additional 89 shares during the last quarter. Finally, Kestra Investment Management LLC increased its position in Chevron by 3.9% in the fourth quarter. Kestra Investment Management LLC now owns 7,358 shares of the oil and gas company’s stock worth $1,066,000 after purchasing an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Shares of Chevron stock opened at $155.32 on Tuesday. The company has a market capitalization of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day simple moving average of $151.86 and a two-hundred day simple moving average of $150.73. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 quarter last year, the company posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed 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 is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.