Alan B Lancz & Associates Inc. Sells 432 Shares of Chevron Co. (NYSE:CVX)

Alan B Lancz & Associates Inc. lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 15.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,417 shares of the oil and gas company’s stock after selling 432 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Chevron were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. State Street Corp raised its position in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. lifted its position in Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after purchasing an additional 138,496 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

NYSE CVX opened at $155.62 on Monday. The stock has a market capitalization of $279.66 billion, a PE ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $151.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $3.05 earnings per share. On average, research analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

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.