Fortis Group Advisors LLC Sells 629 Shares of Chevron Co. (NYSE:CVX)

Fortis Group Advisors LLC lessened its position in Chevron Co. (NYSE:CVX) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,128 shares of the oil and gas company’s stock after selling 629 shares during the period. Fortis Group Advisors LLC’s holdings in Chevron were worth $743,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.4 %

Chevron stock opened at $155.32 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $151.86 and its two-hundred day moving average price is $150.73. The firm has a market capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 in the prior year, the business earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.