Chevron Co. (NYSE:CVX) Holdings Lowered by Spring Capital Management LLC

Spring Capital Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,076 shares of the oil and gas company’s stock after selling 518 shares during the period. Chevron comprises about 3.8% of Spring Capital Management LLC’s holdings, making the stock its 13th biggest holding. Spring Capital Management LLC’s holdings in Chevron were worth $4,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Addison Capital Co boosted its stake in Chevron by 1.9% during the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 63 shares during the period. NCM Capital Management LLC lifted its position in shares of Chevron by 1.2% in the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after acquiring an additional 65 shares during the period. Sweet Financial Partners LLC lifted its position in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares during the period. Strategic Investment Advisors MI lifted its position in shares of Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the period. Finally, Alera Investment Advisors LLC lifted its position in shares of Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.2 %

Shares of Chevron stock traded up $0.33 during trading on Wednesday, reaching $155.60. 1,671,968 shares of the company were exchanged, compared to its average volume of 8,689,606. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The business has a 50-day moving average price of $151.11 and a 200-day moving average price of $152.73. The firm has a market capitalization of $288.99 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a research report on Tuesday, January 16th. Finally, Piper Sandler cut their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

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.