Chevron Co. (NYSE:CVX) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,415 shares of the oil and gas company’s stock after selling 1,339 shares during the quarter. Financial Advocates Investment Management’s holdings in Chevron were worth $4,840,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $151.86 on Friday. The company has a market capitalization of $272.90 billion, a P/E ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11. The company has a 50-day moving average of $152.60 and a 200-day moving average of $150.90. 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 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 earnings per share. Equities analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday. Finally, UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were 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 of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.