White Pine Capital LLC Sells 1,524 Shares of Chevron Co. (NYSE:CVX)

White Pine Capital LLC lowered its position in Chevron Co. (NYSE:CVX) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,627 shares of the oil and gas company’s stock after selling 1,524 shares during the period. Chevron makes up approximately 1.1% of White Pine Capital LLC’s investment portfolio, making the stock its 16th biggest holding. White Pine Capital LLC’s holdings in Chevron were worth $2,928,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Avity Investment Management Inc. increased its position in shares of Chevron by 1.7% during the third quarter. Avity Investment Management Inc. now owns 183,188 shares of the oil and gas company’s stock worth $30,889,000 after acquiring an additional 3,053 shares during the period. Wagner Wealth Management LLC increased its position in shares of Chevron by 3.0% during the third quarter. Wagner Wealth Management LLC now owns 4,363 shares of the oil and gas company’s stock worth $736,000 after acquiring an additional 127 shares during the period. Boston Trust Walden Corp increased its position in shares of Chevron by 4.3% during the third quarter. Boston Trust Walden Corp now owns 139,926 shares of the oil and gas company’s stock worth $23,594,000 after acquiring an additional 5,710 shares during the period. Strategic Blueprint LLC increased its position in shares of Chevron by 6.8% during the third quarter. Strategic Blueprint LLC now owns 18,982 shares of the oil and gas company’s stock worth $3,201,000 after acquiring an additional 1,213 shares during the period. Finally, LaFleur & Godfrey LLC increased its position in shares of Chevron by 1.8% during the third quarter. LaFleur & Godfrey LLC now owns 59,610 shares of the oil and gas company’s stock worth $10,051,000 after acquiring an additional 1,030 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial reduced their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s 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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.61 on Friday, hitting $165.89. 9,736,350 shares of the company were exchanged, 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 stock’s 50 day moving average price is $156.58 and its 200 day moving average price is $151.83. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $308.10 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

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

Chevron Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.93%. Chevron’s payout ratio is currently 57.39%.

Chevron 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.