My Legacy Advisors LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

My Legacy Advisors LLC cut its holdings in Chevron Co. (NYSE:CVX) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,417 shares of the oil and gas company’s stock after selling 374 shares during the quarter. My Legacy Advisors LLC’s holdings in Chevron were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Sei Investments Co. raised its holdings in Chevron by 8.5% in the second quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company’s stock worth $103,121,000 after buying an additional 51,564 shares during the last quarter. Kowal Investment Group LLC increased its position in shares of Chevron by 2.8% during the second quarter. Kowal Investment Group LLC now owns 11,250 shares of the oil and gas company’s stock valued at $1,760,000 after acquiring an additional 309 shares in the last quarter. Holderness Investments Co. lifted its position in Chevron by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 25,128 shares of the oil and gas company’s stock valued at $3,931,000 after acquiring an additional 77 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in Chevron by 13,094.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 26,126 shares of the oil and gas company’s stock valued at $4,087,000 after purchasing an additional 25,928 shares during the last quarter. Finally, Greenline Partners LLC increased its holdings in shares of Chevron by 13.1% in the 2nd quarter. Greenline Partners LLC now owns 26,566 shares of the oil and gas company’s stock worth $4,158,000 after purchasing an additional 3,075 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. DZ Bank raised 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. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Price Performance

Shares of Chevron stock opened at $161.54 on Monday. Chevron Co. has a 52 week low of $135.37 and a 52 week 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 market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The stock’s 50-day simple moving average is $153.93 and its 200-day simple moving average is $151.05.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. 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.