Todd Asset Management LLC Trims Stake in Chevron Co. (NYSE:CVX)

Todd Asset Management LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,354 shares of the oil and gas company’s stock after selling 2,868 shares during the quarter. Todd Asset Management LLC’s holdings in Chevron were worth $27,051,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Chevron during the third quarter worth $26,000. Bare Financial Services Inc purchased a new stake in Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter worth $33,000. Finally, Legacy Financial Group LLC purchased a new stake in Chevron during the third quarter worth $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.3 %

Chevron stock traded down $0.48 during mid-day trading on Friday, hitting $160.25. The company’s stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $297.63 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock’s fifty day moving average is $157.26 and its two-hundred day moving average is $151.76.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the business posted $3.55 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho upped their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.