Sage Rhino Capital LLC Decreases Position in Chevron Co. (NYSE:CVX)

Sage Rhino Capital LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,453 shares of the oil and gas company’s stock after selling 156 shares during the period. Sage Rhino Capital LLC’s holdings in Chevron were worth $515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Chevron in the 3rd quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in Chevron by 80.0% in 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 buying an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc boosted its position in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Truist Financial decreased 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. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Raymond James boosted 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. Finally, TD Cowen boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Stock Performance

NYSE CVX traded down $5.06 during trading on Tuesday, reaching $161.27. The company’s stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business’s fifty day moving average price is $156.81 and its 200-day moving average price is $151.70. The firm has a market cap of $299.52 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the business posted $3.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.