Gallacher Capital Management LLC Decreases Position in Chevron Co. (NYSE:CVX)

Gallacher Capital Management LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 37.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the oil and gas company’s stock after selling 1,053 shares during the quarter. Gallacher Capital Management LLC’s holdings in Chevron were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new position in Chevron in the third quarter valued at $26,000. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $33,000. Finally, Legacy Financial Group LLC acquired a new position in Chevron in the third quarter valued at $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVX. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Performance

Shares of Chevron stock traded up $2.05 on Monday, reaching $162.30. The stock had a trading volume of 8,322,086 shares, compared to its average volume of 8,482,838. The business’s 50-day moving average price is $157.26 and its two-hundred day moving average price is $151.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market cap of $301.43 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.55 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.