Folger Nolan Fleming Douglas Capital Management Inc. Sells 920 Shares of Chevron Co. (NYSE:CVX)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,847 shares of the oil and gas company’s stock after selling 920 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Chevron were worth $7,435,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Morgan Stanley lifted its position in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $348,789,000. Envestnet Asset Management Inc. lifted its position in Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after buying an additional 1,230,619 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Chevron by 28.3% in the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after buying an additional 923,119 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.4 %

CVX stock traded up $0.61 during midday trading on Friday, hitting $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm has a market cap of $308.10 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The business has a 50-day moving average of $156.58 and a two-hundred day moving average of $151.83. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.55 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced 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. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus 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.