Twin Capital Management Inc. Has $4.36 Million Position in Chevron Co. (NYSE:CVX)

Twin Capital Management Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 29.7% in the 4th quarter, Holdings Channel reports. The firm owned 29,210 shares of the oil and gas company’s stock after selling 12,326 shares during the period. Twin Capital Management Inc.’s holdings in Chevron were worth $4,357,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. NCM Capital Management LLC lifted its holdings in shares of Chevron by 1.2% in the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after acquiring an additional 65 shares during the last quarter. Sweet Financial Partners LLC lifted its holdings in shares of Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the last quarter. Alera Investment Advisors LLC lifted its holdings in shares of Chevron by 1.0% in the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after acquiring an additional 67 shares during the last quarter. Finally, Global Trust Asset Management LLC lifted its holdings in shares of 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 worth $1,155,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada upped their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 0.5 %

Shares of CVX traded up $0.81 during trading hours on Thursday, reaching $157.21. The stock had a trading volume of 2,114,666 shares, compared to its average volume of 8,489,327. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $155.19 and a 200 day simple moving average of $151.86. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38. The company has a market capitalization of $291.98 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.30 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $50.93 billion. During the same period last year, the business earned $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Chevron Company 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.