GEM Asset Management LLC Has $281,000 Position in Chevron Co. (NYSE:CVX)

GEM Asset Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,943 shares of the oil and gas company’s stock after selling 150 shares during the quarter. GEM Asset Management LLC’s holdings in Chevron were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in Chevron in the third quarter valued at approximately $182,000. Wedge Capital Management L L P NC lifted its position in shares of Chevron by 4.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 120 shares during the period. CX Institutional boosted its stake in shares of Chevron by 97.0% in the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock valued at $6,801,000 after purchasing an additional 22,735 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Chevron by 1.8% during the third quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock worth $33,671,000 after buying an additional 4,004 shares during the period. Finally, Iams Wealth Management LLC raised its stake in Chevron by 10.5% during the third quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock worth $1,958,000 after buying an additional 1,258 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 1.1 %

CVX stock opened at $157.43 on Wednesday. The stock’s 50 day moving average is $152.08 and its 200-day moving average is $150.81. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market capitalization of $282.91 billion, a PE ratio of 16.20, a P/E/G ratio of 1.39 and a beta of 1.11. 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 (NYSE:CVX) last issued its quarterly earnings data 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 prior year, the firm earned $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.34%. Chevron’s payout ratio is 67.08%.

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.