Thoroughbred Financial Services LLC Sells 1,941 Shares of Chevron Co. (NYSE:CVX)

Thoroughbred Financial Services LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 44,251 shares of the oil and gas company’s stock after selling 1,941 shares during the period. Thoroughbred Financial Services LLC’s holdings in Chevron were worth $6,409,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVX. Yoffe Investment Management LLC bought a new position in Chevron in the 4th quarter worth $624,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Chevron by 3.1% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 9,349 shares of the oil and gas company’s stock worth $1,354,000 after acquiring an additional 279 shares during the period. Orleans Capital Management Corp LA grew its position in shares of Chevron by 3.5% during the fourth quarter. Orleans Capital Management Corp LA now owns 19,727 shares of the oil and gas company’s stock worth $3,106,000 after purchasing an additional 673 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Chevron during the 4th quarter valued at approximately $217,000. Finally, Uniting Wealth Partners LLC purchased a new position in Chevron in the 4th quarter worth approximately $791,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Piper Sandler reduced 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. Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 6.3 %

Shares of Chevron stock opened at $155.98 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. 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 stock has a market cap of $274.61 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.46 and a beta of 1.08. The stock’s 50 day simple moving average is $157.63 and its 200-day simple moving average is $154.10.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.