Chevron Co. (NYSE:CVX) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,076 shares of the oil and gas company’s stock after selling 518 shares during the quarter. Chevron comprises 3.8% of Spring Capital Management LLC’s holdings, making the stock its 13th biggest position. Spring Capital Management LLC’s holdings in Chevron were worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in Chevron during the third quarter worth $26,000. 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. DHJJ Financial Advisors Ltd. purchased a new stake in Chevron during the third quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new stake in Chevron during the first quarter worth $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.2 %

Shares of CVX traded up $0.33 during trading on Wednesday, reaching $155.60. 1,671,968 shares of the company traded hands, compared to its average volume of 8,689,606. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The stock has a market cap of $288.99 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The stock has a 50-day simple moving average of $151.11 and a 200-day simple moving average of $152.73. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the business earned $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change 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 4.19%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Piper Sandler decreased their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a report on Tuesday, January 16th. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

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.