Chevron Co. (NYSE:CVX) Shares Sold by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,209 shares of the oil and gas company’s stock after selling 2,723 shares during the period. Terra Nova Asset Management LLC’s holdings in Chevron were worth $330,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of 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 worth $30,000 after acquiring an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new position in shares of Chevron in the 3rd quarter worth approximately $35,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $33,000. Finally, Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVX shares. Piper Sandler decreased 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. Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 16th. 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. Finally, UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Price Performance

Shares of Chevron stock traded up $1.39 during trading on Thursday, hitting $157.74. The stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market cap of $292.97 billion, a P/E ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The business has a fifty day moving average of $151.60 and a two-hundred day moving average of $152.67. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company 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%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.09 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given 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 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s payout ratio is 57.39%.

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.