Bigelow Investment Advisors LLC Sells 153 Shares of Chevron Co. (NYSE:CVX)

Bigelow Investment Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,791 shares of the oil and gas company’s stock after selling 153 shares during the period. Bigelow Investment Advisors LLC’s holdings in Chevron were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Zhang Financial LLC boosted its stake in shares of Chevron by 4.3% during the fourth quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company’s stock valued at $513,000 after purchasing an additional 142 shares in the last quarter. Beaumont Financial Advisors LLC boosted its stake in Chevron by 0.9% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,136 shares of the oil and gas company’s stock valued at $1,512,000 after acquiring an additional 93 shares in the last quarter. Cutler Investment Counsel LLC boosted its stake in Chevron by 3.1% in the fourth quarter. Cutler Investment Counsel LLC now owns 72,129 shares of the oil and gas company’s stock valued at $10,759,000 after acquiring an additional 2,180 shares in the last quarter. Davidson Trust Co. boosted its stake in Chevron by 2.3% in the fourth quarter. Davidson Trust Co. now owns 25,106 shares of the oil and gas company’s stock valued at $3,745,000 after acquiring an additional 559 shares in the last quarter. Finally, HTLF Bank acquired a new stake in Chevron in the fourth quarter valued at approximately $8,154,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Raymond James raised their target price 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. 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. Wells Fargo & Company raised their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

Chevron Stock Performance

CVX opened at $160.00 on Friday. 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 market capitalization of $297.16 billion, a PE ratio of 14.08, a PEG ratio of 2.38 and a beta of 1.12. The firm’s 50-day moving average price is $155.44 and its 200 day moving average price is $151.86. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38.

Chevron (NYSE:CVX) last posted its earnings results 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. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 EPS. As a group, sell-side analysts expect that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 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.