Chevron Co. (NYSE:CVX) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,886 shares of the oil and gas company’s stock after selling 298 shares during the quarter. Tradition Wealth Management LLC’s holdings in Chevron were worth $1,287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.7 %

CVX stock opened at $137.68 on Monday. The company has a market cap of $242.39 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a fifty day moving average price of $153.54 and a 200 day moving average price of $153.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business earned $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned 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 target price of $169.50.

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.