Shulman DeMeo Asset Management LLC Sells 771 Shares of Chevron Co. (NYSE:CVX)

Shulman DeMeo Asset Management LLC cut its position in Chevron Co. (NYSE:CVX) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,880 shares of the oil and gas company’s stock after selling 771 shares during the quarter. Chevron accounts for about 0.3% of Shulman DeMeo Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Shulman DeMeo Asset Management LLC’s holdings in Chevron were worth $1,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Tacita Capital Inc raised 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 buying an additional 65 shares during the period. Wallace Capital Management Inc. raised its position in shares of Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Chevron by 0.3% in 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 purchasing an additional 67 shares in the last quarter. S.A. Mason LLC grew its position in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing 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 valued at $201,000 after purchasing an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVX shares. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Raymond James boosted their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company increased their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX stock opened at $161.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm’s 50-day simple moving average is $153.84 and its two-hundred day simple moving average is $151.06.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is 71.65%.

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.