Chevron Co. (NYSE:CVX) Shares Sold by West Oak Capital LLC

West Oak Capital LLC cut its stake in Chevron Co. (NYSE:CVX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,943 shares of the oil and gas company’s stock after selling 160 shares during the quarter. Chevron makes up approximately 1.2% of West Oak Capital LLC’s investment portfolio, making the stock its 20th largest position. West Oak Capital LLC’s holdings in Chevron were worth $2,642,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVX. Vanguard Group Inc. increased its position in shares of Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after buying an additional 458,080 shares in the last quarter. Morgan Stanley increased its position in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Chevron by 2.6% in the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after buying an additional 569,850 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.2 %

CVX traded up $0.38 during trading on Wednesday, reaching $155.65. 2,000,402 shares of the stock traded hands, compared to its average volume of 8,692,951. The stock has a market cap of $289.08 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock’s 50-day simple moving average is $151.11 and its two-hundred day simple moving average is $152.73.

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, 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 company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. Scotiabank cut 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. Piper Sandler dropped their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Royal Bank of Canada boosted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron 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.