Gallacher Capital Management LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Gallacher Capital Management LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the oil and gas company’s stock after selling 1,053 shares during the period. Gallacher Capital Management LLC’s holdings in Chevron were worth $262,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Valley Brook Capital Group Inc. boosted its stake in Chevron by 2.2% during the 4th quarter. Valley Brook Capital Group Inc. now owns 7,000 shares of the oil and gas company’s stock valued at $1,044,000 after purchasing an additional 150 shares during the period. Channing Capital Management LLC raised its holdings in shares of Chevron by 26.7% during the fourth quarter. Channing Capital Management LLC now owns 60,263 shares of the oil and gas company’s stock valued at $8,989,000 after acquiring an additional 12,685 shares during the period. TCI Wealth Advisors Inc. raised its stake in Chevron by 9.4% during the 4th quarter. TCI Wealth Advisors Inc. now owns 31,794 shares of the oil and gas company’s stock valued at $4,742,000 after purchasing an additional 2,736 shares during the period. W.H. Cornerstone Investments Inc. raised its stake in Chevron by 96.7% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,383 shares of the oil and gas company’s stock valued at $654,000 after purchasing an additional 2,155 shares during the period. Finally, River Global Investors LLP acquired a new stake in Chevron during the 4th quarter valued at $4,474,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Up 1.3 %

Shares of CVX stock traded up $2.05 on Monday, hitting $162.30. The company had a trading volume of 8,322,086 shares, compared to its average volume of 8,482,838. 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 0.93 and a current ratio of 1.23. The firm has a market cap of $301.43 billion, a P/E ratio of 15.02, a P/E/G ratio of 2.37 and a beta of 1.11. The stock’s 50-day moving average is $157.26 and its two-hundred day moving average is $151.53.

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 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s payout ratio is 59.98%.

Chevron Profile

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.