Chevron Co. (NYSE:CVX) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,125 shares of the oil and gas company’s stock after selling 3,431 shares during the quarter. Wealthspire Advisors LLC’s holdings in Chevron were worth $9,143,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CVX. Values First Advisors Inc. purchased a new stake in shares of Chevron during the third quarter valued at $163,000. West Michigan Advisors LLC grew its holdings in shares of Chevron by 7.6% during the third quarter. West Michigan Advisors LLC now owns 8,954 shares of the oil and gas company’s stock valued at $1,319,000 after buying an additional 635 shares during the last quarter. Cross Staff Investments Inc grew its holdings in shares of Chevron by 1.3% during the third quarter. Cross Staff Investments Inc now owns 5,207 shares of the oil and gas company’s stock valued at $767,000 after buying an additional 68 shares during the last quarter. Element Wealth LLC grew its holdings in shares of Chevron by 2.8% during the third quarter. Element Wealth LLC now owns 7,624 shares of the oil and gas company’s stock valued at $1,123,000 after buying an additional 210 shares during the last quarter. Finally, Silver Oak Securities Incorporated boosted its holdings in Chevron by 7.1% in the third quarter. Silver Oak Securities Incorporated now owns 7,843 shares of the oil and gas company’s stock valued at $1,141,000 after purchasing an additional 523 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 1.2 %

CVX opened at $156.92 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $151.97 and a 200 day moving average price of $151.05. The company has a market cap of $282.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the company posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

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.