Albion Financial Group UT Lowers Position in Chevron Corporation $CVX

Albion Financial Group UT cut its stake in Chevron Corporation (NYSE:CVX) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,671 shares of the oil and gas company’s stock after selling 3,598 shares during the period. Albion Financial Group UT’s holdings in Chevron were worth $3,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new stake in Chevron in the third quarter worth about $34,000. Marquette Asset Management LLC purchased a new stake in Chevron in the third quarter worth about $41,000. Barnes Dennig Private Wealth Management LLC lifted its holdings in Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after buying an additional 202 shares during the period. Evolution Wealth Management Inc. purchased a new stake in Chevron in the second quarter worth about $49,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Chevron in the third quarter worth about $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $198.90 on Tuesday. The company has a market capitalization of $396.89 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $189.78 and a 200 day moving average of $167.10. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter last year, the firm earned $2.06 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a $1.78 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s payout ratio is presently 106.91%.

Insiders Place Their Bets

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 782,607 shares of company stock worth $146,510,571 in the last 90 days. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Scotiabank upgraded shares of Chevron to a “hold” rating in a report on Friday, March 27th. Jefferies Financial Group raised their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Sanford C. Bernstein raised their target price on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. Finally, Mizuho raised their target price on shares of Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $187.64.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.