Wambolt & Associates LLC Sells 2,099 Shares of Chevron Co. (NYSE:CVX)

Wambolt & Associates LLC lessened its stake in Chevron Co. (NYSE:CVX) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,890 shares of the oil and gas company’s stock after selling 2,099 shares during the quarter. Wambolt & Associates LLC’s holdings in Chevron were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CVX. United Bank increased its holdings in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Douglass Winthrop Advisors LLC increased its holdings in Chevron by 4.8% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company’s stock worth $3,963,000 after buying an additional 1,233 shares in the last quarter. Concentric Wealth Management LLC raised its position in Chevron by 3.1% in the 3rd quarter. Concentric Wealth Management LLC now owns 36,489 shares of the oil and gas company’s stock worth $5,374,000 after buying an additional 1,086 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in Chevron by 3.6% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 13,276 shares of the oil and gas company’s stock valued at $1,955,000 after acquiring an additional 466 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $165.10 on Tuesday. The firm’s 50 day simple moving average is $156.49 and its two-hundred day simple moving average is $152.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $290.68 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its 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 in the prior year, the company posted $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.14%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

CVX has been the subject of several research reports. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.