Terra Nova Asset Management LLC Has $330,000 Stock Position in Chevron Co. (NYSE:CVX)

Terra Nova Asset Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 55.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,209 shares of the oil and gas company’s stock after selling 2,723 shares during the quarter. Terra Nova Asset Management LLC’s holdings in Chevron were worth $330,000 at the end of the most recent reporting period.

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

Chevron Stock Up 0.9 %

Shares of CVX stock traded up $1.39 on Thursday, reaching $157.74. 8,232,104 shares of the company were exchanged, compared to its average volume of 8,778,653. The company has a market cap of $292.97 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The company has a 50-day moving average of $151.60 and a 200-day moving average of $152.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a one year low of $139.62 and a one year high of $172.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. 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. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Piper Sandler reduced their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Finally, Mizuho upped their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target 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.