Washburn Capital Management Inc. Sells 1,015 Shares of Chevron Co. (NYSE:CVX)

Washburn Capital Management Inc. cut its position in Chevron Co. (NYSE:CVX) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,852 shares of the oil and gas company’s stock after selling 1,015 shares during the quarter. Washburn Capital Management Inc.’s holdings in Chevron were worth $425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron during the third quarter worth $35,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Chevron during the first quarter worth $36,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX opened at $160.69 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The business’s 50 day moving average price is $153.47 and its two-hundred day moving average price is $152.48. The firm has a market cap of $298.44 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last issued 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 return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 13.13 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVX shares. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday. Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada boosted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.32.

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.