Haverford Financial Services Inc. Has $4.18 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Haverford Financial Services Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 49.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,861 shares of the oil and gas company’s stock after selling 27,709 shares during the quarter. Chevron accounts for 1.3% of Haverford Financial Services Inc.’s holdings, making the stock its 28th biggest holding. Haverford Financial Services Inc.’s holdings in Chevron were worth $4,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Nicholas Company Inc. grew its holdings in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Chevron during the 4th quarter worth $594,000. Unified Investment Management acquired a new stake in shares of Chevron during the 4th quarter worth $729,000. Finally, Capital Investment Counsel LLC grew its holdings in shares of Chevron by 4.5% during the 3rd quarter. Capital Investment Counsel LLC now owns 74,508 shares of the oil and gas company’s stock worth $10,973,000 after purchasing an additional 3,177 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on 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 owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Down 0.2 %

Shares of CVX stock opened at $164.37 on Friday. The stock has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. The stock has a 50-day moving average of $156.29 and a 200-day moving average of $152.57. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued 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 last year, the firm posted $3.45 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.16%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 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.