Sandhill Capital Partners LLC Has $4.70 Million Position in Chevron Co. (NYSE:CVX)

Sandhill Capital Partners LLC lowered its position in Chevron Co. (NYSE:CVX) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,495 shares of the oil and gas company’s stock after selling 3,077 shares during the quarter. Sandhill Capital Partners LLC’s holdings in Chevron were worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc increased its position in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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 research report on Monday, January 8th. 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 research report on Thursday, April 4th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Stock Up 1.0 %

NYSE:CVX traded up $1.70 during trading hours on Thursday, hitting $165.27. 9,694,216 shares of the company traded hands, compared to its average volume of 8,464,199. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $156.14 and its 200-day simple moving average is $151.75. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market cap of $306.95 billion, a PE ratio of 14.55, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the business earned $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 3.95%. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.