Romano Brothers AND Company Lowers Stock Position in Chevron Co. (NYSE:CVX)

Romano Brothers AND Company lessened its holdings in Chevron Co. (NYSE:CVX) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,983 shares of the oil and gas company’s stock after selling 615 shares during the quarter. Romano Brothers AND Company’s holdings in Chevron were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital Advisors Inc. OK boosted its holdings in Chevron by 4.4% in the 4th quarter. Capital Advisors Inc. OK now owns 527,278 shares of the oil and gas company’s stock valued at $78,649,000 after purchasing an additional 22,023 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $245,000. Louisiana State Employees Retirement System acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $15,826,000. WCM Investment Management LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $258,000. Finally, Northstar Asset Management LLC lifted its position in shares of Chevron by 0.6% during the 4th quarter. Northstar Asset Management LLC now owns 17,288 shares of the oil and gas company’s stock valued at $2,579,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 1.8 %

Shares of CVX opened at $158.96 on Monday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The stock has a fifty day moving average of $154.92 and a two-hundred day moving average of $152.01. The company has a market capitalization of $295.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the company earned $4.09 EPS. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. Chevron’s payout ratio is currently 57.39%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research report on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Wells Fargo & Company lifted their price objective on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.60.

Chevron Company 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.