Dover Advisors LLC Reduces Position in Chevron Co. (NYSE:CVX)

Dover Advisors LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 22.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,943 shares of the oil and gas company’s stock after selling 2,297 shares during the period. Chevron comprises approximately 1.6% of Dover Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Dover Advisors LLC’s holdings in Chevron were worth $1,185,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc boosted its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of CVX stock traded up $0.61 during trading hours on Friday, reaching $165.89. 9,736,350 shares of the company’s stock were exchanged, compared to its average volume of 7,082,480. The stock’s 50 day moving average is $156.58 and its 200-day moving average is $151.66. The company has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm earned $3.55 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. Analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wells Fargo & Company boosted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron 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.