Cassaday & Co Wealth Management LLC Sells 105 Shares of Chevron Co. (NYSE:CVX)

Cassaday & Co Wealth Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,236 shares of the oil and gas company’s stock after selling 105 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Chevron were worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Compass Capital Corp MA ADV bought a new position in shares of Chevron during the fourth quarter valued at approximately $341,000. WP Advisors LLC increased its stake in shares of Chevron by 0.8% during the fourth quarter. WP Advisors LLC now owns 17,433 shares of the oil and gas company’s stock valued at $2,525,000 after purchasing an additional 139 shares in the last quarter. Cordatus Wealth Management LLC increased its stake in shares of Chevron by 4.0% during the fourth quarter. Cordatus Wealth Management LLC now owns 19,647 shares of the oil and gas company’s stock valued at $2,846,000 after purchasing an additional 763 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $183,000. Finally, FDx Advisors Inc. increased its stake in shares of Chevron by 4.4% during the fourth quarter. FDx Advisors Inc. now owns 4,113 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 174 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.1 %

CVX opened at $158.89 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. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s fifty day moving average is $151.91 and its 200 day moving average is $150.91. The stock has a market cap of $285.53 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted $3.45 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.31%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVX shares. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.