GeoWealth Management LLC Sells 1,555 Shares of Chevron Co. (NYSE:CVX)

GeoWealth Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 10.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,107 shares of the oil and gas company’s stock after selling 1,555 shares during the period. GeoWealth Management LLC’s holdings in Chevron were worth $1,898,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new position in shares of Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC lifted its holdings in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $137.68 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. The stock has a market capitalization of $242.39 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The stock’s 50 day moving average price is $153.54 and its 200-day moving average price is $153.42. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 company earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.97%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

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.