Core Alternative Capital Sells 2,731 Shares of Chevron Co. (NYSE:CVX)

Core Alternative Capital decreased its stake in Chevron Co. (NYSE:CVX) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,495 shares of the oil and gas company’s stock after selling 2,731 shares during the period. Core Alternative Capital’s holdings in Chevron were worth $6,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Essex Financial Services Inc. increased its position in shares of Chevron by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 50,088 shares of the oil and gas company’s stock worth $7,255,000 after purchasing an additional 654 shares during the last quarter. Mill Creek Capital Advisors LLC grew its stake in shares of Chevron by 33.5% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 4,954 shares of the oil and gas company’s stock valued at $718,000 after buying an additional 1,243 shares in the last quarter. MADDEN SECURITIES Corp increased its holdings in Chevron by 5.0% during the fourth quarter. MADDEN SECURITIES Corp now owns 34,711 shares of the oil and gas company’s stock worth $5,028,000 after buying an additional 1,644 shares during the last quarter. Sapient Capital LLC raised its position in Chevron by 4.0% during the fourth quarter. Sapient Capital LLC now owns 312,152 shares of the oil and gas company’s stock worth $45,212,000 after acquiring an additional 11,998 shares in the last quarter. Finally, Paladin Wealth LLC lifted its stake in Chevron by 10.6% in the fourth quarter. Paladin Wealth LLC now owns 7,134 shares of the oil and gas company’s stock valued at $1,033,000 after acquiring an additional 684 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

NYSE CVX opened at $155.76 on Tuesday. The firm has a 50-day moving average price of $152.21 and a two-hundred day moving average price of $150.82. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market capitalization of $279.91 billion, a P/E ratio of 16.02, 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 results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, 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. 0.20% of the stock is owned by insiders.

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.