Chevron Co. (NYSE:CVX) is Poplar Forest Capital LLC’s 9th Largest Position

Poplar Forest Capital LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 22.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,516 shares of the oil and gas company’s stock after selling 51,792 shares during the quarter. Chevron comprises 3.8% of Poplar Forest Capital LLC’s portfolio, making the stock its 9th largest position. Poplar Forest Capital LLC’s holdings in Chevron were worth $26,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. BIP Wealth LLC grew its holdings in shares of Chevron by 141.5% during the 4th quarter. BIP Wealth LLC now owns 6,397 shares of the oil and gas company’s stock worth $954,000 after acquiring an additional 3,748 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Chevron by 3.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,851 shares of the oil and gas company’s stock worth $9,971,000 after purchasing an additional 2,442 shares during the period. Atria Wealth Solutions Inc. raised its holdings in Chevron by 0.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 177,347 shares of the oil and gas company’s stock worth $26,453,000 after purchasing an additional 856 shares in the last quarter. Carret Asset Management LLC boosted its holdings in shares of Chevron by 0.4% during the 4th quarter. Carret Asset Management LLC now owns 80,820 shares of the oil and gas company’s stock valued at $12,055,000 after buying an additional 288 shares in the last quarter. Finally, Bfsg LLC grew its position in shares of Chevron by 3.9% in the 4th quarter. Bfsg LLC now owns 27,141 shares of the oil and gas company’s stock worth $4,048,000 after buying an additional 1,020 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Chevron Stock Performance

Chevron stock traded up $0.84 during midday trading on Wednesday, reaching $163.69. 7,607,146 shares of the company traded hands, compared to its average volume of 8,448,613. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. 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 business has a 50 day moving average of $156.14 and a two-hundred day moving average of $151.75. The firm has a market capitalization of $304.02 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $4.09 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company boosted their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

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.