Ballast Inc. Sells 318 Shares of Chevron Co. (NYSE:CVX)

Ballast Inc. lowered its position in shares of Chevron Co. (NYSE:CVX) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665 shares of the oil and gas company’s stock after selling 318 shares during the period. Ballast Inc.’s holdings in Chevron were worth $248,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CVX. Cantor Fitzgerald Investment Advisor L.P grew its stake in Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its stake in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares in the last quarter. GQG Partners LLC grew its stake in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.9 %

Shares of NYSE:CVX traded up $1.39 on Thursday, hitting $157.74. The company had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The firm’s 50-day simple moving average is $151.60 and its two-hundred day simple moving average is $152.67. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12.

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

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend 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 currently 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. 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 research note on Tuesday, February 6th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research note on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average 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.