Kovack Advisors Inc. decreased its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,766 shares of the oil and gas company’s stock after selling 2,814 shares during the quarter. Chevron makes up 0.9% of Kovack Advisors Inc.’s holdings, making the stock its 22nd largest holding. Kovack Advisors Inc.’s holdings in Chevron were worth $9,091,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in Chevron during the 4th quarter valued at about $25,000. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter valued at $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Insider Transactions at Chevron
In related 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 transaction of $1,422,062.50. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.
Chevron Stock Down 0.9 %
Chevron (NYSE:CVX – Get Free Report) last issued 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.
Analysts Set New Price Targets
CVX has been the topic of several research analyst reports. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.
Get Our Latest Stock Analysis on Chevron
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.
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