Chevron Co. (NYSE:CVX) Shares Sold by Bank OZK

Bank OZK trimmed its position in shares of Chevron Co. (NYSE:CVX) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,110 shares of the oil and gas company’s stock after selling 856 shares during the period. Chevron makes up about 1.0% of Bank OZK’s holdings, making the stock its 28th largest holding. Bank OZK’s holdings in Chevron were worth $1,955,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC lifted its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Morgan Stanley lifted its stake in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth $348,789,000. Envestnet Asset Management Inc. increased its position in shares of Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after acquiring an additional 923,119 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock traded up $0.61 during mid-day trading on Friday, reaching $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. Chevron Co. has a 1 year low of $139.62 and a 1 year 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 company has a market capitalization of $308.10 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. The stock’s 50-day simple moving average is $156.58 and its 200-day simple moving average is $151.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the company posted $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Wells Fargo & Company raised their price objective on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.