Chevron Co. (NYSE:CVX) Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its stake in Chevron Co. (NYSE:CVXFree Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,540 shares of the oil and gas company’s stock after selling 1,171 shares during the period. Abacus Planning Group Inc.’s holdings in Chevron were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Chevron during the 3rd quarter valued at about $35,000. Finally, Worth Asset Management LLC acquired a new position in Chevron in the 1st quarter worth $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.9 %

Shares of Chevron stock opened at $157.74 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $292.97 billion, a PE ratio of 13.89, a PEG ratio of 2.42 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The firm has a 50-day moving average of $152.23 and a 200-day moving average of $152.67.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Piper Sandler cut their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

View Our Latest Stock Report on CVX

About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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