Jacobs & Co. CA Sells 687 Shares of Chevron Co. (NYSE:CVX)

Jacobs & Co. CA lowered its position in shares of Chevron Co. (NYSE:CVX) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,722 shares of the oil and gas company’s stock after selling 687 shares during the period. Jacobs & Co. CA’s holdings in Chevron were worth $3,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Tacita Capital Inc increased its stake in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. increased its stake in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the period. S.A. Mason LLC increased its stake in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the period. Finally, Jag Capital Management LLC increased its stake in Chevron by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $2.63 during midday trading on Friday, reaching $152.93. 7,040,015 shares of the company’s stock traded hands, compared to its average volume of 6,852,600. The company has a 50-day moving average price of $153.68 and a two-hundred day moving average price of $151.08. 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 Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market capitalization of $274.83 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.26%. Chevron’s payout ratio is 71.65%.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was 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 owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.