Relyea Zuckerberg Hanson LLC Sells 152 Shares of Chevron Co. (NYSE:CVX)

Relyea Zuckerberg Hanson LLC lowered its stake in Chevron Co. (NYSE:CVX) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,108 shares of the oil and gas company’s stock after selling 152 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Chevron were worth $762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Picton Mahoney Asset Management bought a new position in shares of Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in Chevron in the third quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new stake in Chevron in the first quarter worth $36,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded up $1.39 during trading on Friday, hitting $157.74. 8,331,627 shares of the company’s stock traded hands, compared to its average volume of 8,810,399. 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 Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The stock has a market capitalization of $292.97 billion, a P/E ratio of 13.89, a PEG ratio of 2.40 and a beta of 1.12. The business has a 50-day simple moving average of $151.60 and a 200-day simple moving average of $152.67.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS 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 company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the firm posted $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is currently 57.39%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. Royal Bank of Canada upped 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. 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. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Piper Sandler reduced their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.