Vista Investment Partners LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Vista Investment Partners LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 52,882 shares of the oil and gas company’s stock after selling 229 shares during the quarter. Chevron makes up about 2.4% of Vista Investment Partners LLC’s holdings, making the stock its 6th biggest holding. Vista Investment Partners LLC’s holdings in Chevron were worth $7,659,000 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 lifted its holdings in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 11.5% during 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 acquiring an additional 3,203,899 shares in the last quarter. Finally, State Street Corp increased its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $155.62 on Monday. The firm has a market capitalization of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s fifty day moving average price is $153.81 and its 200-day moving average price is $151.14. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

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

Chevron Announces Dividend

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

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.