Albion Financial Group UT Reduces Position in Chevron Corporation $CVX

Albion Financial Group UT lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,671 shares of the oil and gas company’s stock after selling 3,598 shares during the quarter. Albion Financial Group UT’s holdings in Chevron were worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CVX. Decker Retirement Planning Inc. purchased a new position in shares of Chevron during the 3rd quarter worth $34,000. Marquette Asset Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth $41,000. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 202 shares during the last quarter. Evolution Wealth Management Inc. purchased a new position in shares of Chevron during the 2nd quarter worth $49,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Chevron during the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, March 20th. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Barclays lifted their target price on shares of Chevron from $172.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Finally, Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $187.64.

Insider Activity

In related news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total transaction of $441,338.24. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 782,607 shares of company stock worth $146,510,571. 0.21% of the stock is owned by insiders.

Chevron Stock Down 0.0%

Shares of NYSE CVX opened at $198.90 on Tuesday. The firm’s 50-day moving average price is $189.78 and its 200-day moving average price is $167.10. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $396.89 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.66 and a beta of 0.60. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is currently 106.91%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.