Total Investment Management Inc. Sells 255 Shares of Chevron Co. (NYSE:CVX)

Total Investment Management Inc. cut its stake in Chevron Co. (NYSE:CVX) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,952 shares of the oil and gas company’s stock after selling 255 shares during the quarter. Total Investment Management Inc.’s holdings in Chevron were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Heritage Financial Services LLC raised its holdings in shares of Chevron by 59.6% in the fourth quarter. Heritage Financial Services LLC now owns 3,246 shares of the oil and gas company’s stock valued at $484,000 after purchasing an additional 1,212 shares during the last quarter. Raab & Moskowitz Asset Management LLC grew its position in Chevron by 2.3% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 16,531 shares of the oil and gas company’s stock worth $2,466,000 after purchasing an additional 368 shares in the last quarter. Rather & Kittrell Inc. grew its position in Chevron by 8.6% in the 4th quarter. Rather & Kittrell Inc. now owns 3,491 shares of the oil and gas company’s stock worth $521,000 after purchasing an additional 277 shares in the last quarter. Spinnaker Trust increased its stake in Chevron by 6.1% in the 4th quarter. Spinnaker Trust now owns 52,762 shares of the oil and gas company’s stock valued at $7,870,000 after buying an additional 3,028 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its position in shares of Chevron by 5.6% during the 4th quarter. Kovack Advisors Inc. now owns 44,741 shares of the oil and gas company’s stock worth $6,674,000 after buying an additional 2,384 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s 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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.4 %

CVX stock opened at $165.89 on Friday. The stock has a 50-day simple moving average of $156.58 and a two-hundred day simple moving average of $151.73. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market capitalization of $308.10 billion, a PE ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share 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 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.55 EPS. On average, equities analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Mizuho lifted their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective 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, UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.75.

About Chevron

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.