Pacific Sage Partners LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Pacific Sage Partners LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,217 shares of the oil and gas company’s stock after selling 99 shares during the quarter. Pacific Sage Partners LLC’s holdings in Chevron were worth $1,190,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Down 4.5 %

NYSE:CVX opened at $149.21 on Monday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $153.19 and a 200-day simple moving average of $151.09. The company has a market capitalization of $268.14 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. On average, equities research analysts expect that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

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.