WealthBridge Capital Management LLC Sells 245 Shares of Chevron Co. (NYSE:CVX)

WealthBridge Capital Management LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 13.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,638 shares of the oil and gas company’s stock after selling 245 shares during the period. WealthBridge Capital Management LLC’s holdings in Chevron were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Unionview LLC boosted its position in Chevron by 3.4% during the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock worth $311,000 after purchasing an additional 70 shares during the period. Sunpointe LLC boosted its position in shares of Chevron by 16.3% in the fourth quarter. Sunpointe LLC now owns 3,695 shares of the oil and gas company’s stock valued at $535,000 after acquiring an additional 518 shares during the period. LMG Wealth Partners LLC boosted its position in shares of Chevron by 2.9% in the fourth quarter. LMG Wealth Partners LLC now owns 70,047 shares of the oil and gas company’s stock valued at $10,146,000 after acquiring an additional 1,943 shares during the period. Corps Capital Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $767,000. Finally, SNS Financial Group LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $210,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

CVX stock opened at $157.14 on Thursday. The company has a market capitalization of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50 day moving average price is $151.82 and its two-hundred day moving average price is $150.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 EPS. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler lowered 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. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.