Chevron Co. (NYSE:CVX) Shares Sold by Eudaimonia Advisors LLC

Eudaimonia Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,524 shares of the oil and gas company’s stock after selling 279 shares during the period. Chevron comprises approximately 0.9% of Eudaimonia Advisors LLC’s holdings, making the stock its 27th largest holding. Eudaimonia Advisors LLC’s holdings in Chevron were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Morgan Stanley grew its stake 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 worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Chevron in the third quarter worth $348,789,000. Envestnet Asset Management Inc. boosted its stake in Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after buying an additional 1,230,619 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after buying an additional 923,119 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.93 during trading on Tuesday, hitting $162.85. 5,587,920 shares of the stock were exchanged, compared to its average volume of 8,459,302. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.38. The company has a market capitalization of $302.46 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company’s fifty day simple moving average is $155.63 and its 200-day simple moving average is $151.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company earned $4.09 EPS. Sell-side analysts expect that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders 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 of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.00%. Chevron’s payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVX shares. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Company increased their price objective on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.