Verdence Capital Advisors LLC Sells 25,433 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

Verdence Capital Advisors LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,173 shares of the oil and gas company’s stock after selling 25,433 shares during the period. Verdence Capital Advisors LLC’s holdings in Chevron were worth $4,501,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sweet Financial Partners LLC grew its holdings in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI raised its holdings in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the last quarter. NCM Capital Management LLC lifted its position in Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares during the period. Global Trust Asset Management LLC boosted its stake in Chevron by 1.0% in the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC boosted its stake in Chevron by 1.4% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.5 %

CVX traded up $2.43 on Friday, hitting $160.00. 7,734,654 shares of the company were exchanged, compared to its average volume of 6,934,255. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38. 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’s fifty day moving average is $155.44 and its 200-day moving average is $151.86. The company has a market cap of $297.16 billion, a PE ratio of 14.08, a PEG ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $4.09 earnings per share. Equities research analysts predict that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s dividend payout ratio is presently 57.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CVX shares. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Wells Fargo & Company lifted their price objective on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Read Our Latest Report on Chevron

Insider Transactions at Chevron

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

Chevron Company Profile

(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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