Centerpoint Advisors LLC Reduces Position in Chevron Co. (NYSE:CVX)

Centerpoint Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,301 shares of the oil and gas company’s stock after selling 240 shares during the quarter. Centerpoint Advisors LLC’s holdings in Chevron were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter valued at approximately $25,000. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This 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. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $155.32 on Tuesday. The company has a fifty day moving average of $151.86 and a two-hundred day moving average of $150.73. 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 1 year low of $135.37 and a 1 year high of $167.11. The company has a market capitalization of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11.

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 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 in the previous year, the company earned $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 67.08%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Barclays decreased 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. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.