Colonial River Investments LLC Has $975,000 Stake in Chevron Co. (NYSE:CVX)

Colonial River Investments LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,732 shares of the oil and gas company’s stock after selling 132 shares during the quarter. Colonial River Investments LLC’s holdings in Chevron were worth $975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVX shares. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 1.2 %

Shares of Chevron stock opened at $156.92 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm’s 50 day moving average is $151.97 and its 200 day moving average is $151.11.

Chevron (NYSE:CVX) last posted its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business earned $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 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.