Howard Capital Management Group LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Howard Capital Management Group LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,418 shares of the oil and gas company’s stock after selling 76 shares during the period. Howard Capital Management Group LLC’s holdings in Chevron were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the 3rd quarter worth approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.39 on Thursday. The stock has a market capitalization of $281.05 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.45 and a beta of 1.12. The firm’s fifty day simple moving average is $154.09 and its 200-day simple moving average is $151.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.05 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Truist Financial upped their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.