LifePro Asset Management Lowers Holdings in Chevron Co. (NYSE:CVX)

LifePro Asset Management trimmed its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,644 shares of the oil and gas company’s stock after selling 783 shares during the period. Chevron comprises about 0.8% of LifePro Asset Management’s investment portfolio, making the stock its 17th biggest position. LifePro Asset Management’s holdings in Chevron were worth $1,386,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CVX. Worth Asset Management LLC purchased a new position in shares of Chevron in the first quarter valued at about $36,000. Win Advisors Inc. lifted its position in shares of Chevron by 61.2% in the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after buying an additional 120 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its position in shares of Chevron by 80.6% in the second quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after buying an additional 150 shares in the last quarter. Foster Dykema Cabot & Co. Inc. MA purchased a new stake in shares of Chevron in the second quarter worth about $69,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Chevron in the second quarter worth about $72,000. 69.37% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.1 %

CVX opened at $180.66 on Tuesday. The stock has a market cap of $349.33 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 0.81 and a beta of 1.18. The stock’s 50 day moving average price is $177.53 and its 200-day moving average price is $165.74. Chevron Co. has a one year low of $122.84 and a one year high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.54. The firm had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.96 earnings per share. On average, equities analysts forecast that Chevron Co. will post 18.91 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $5.68 annualized dividend and a yield of 3.14%. Chevron’s dividend payout ratio (DPR) is currently 32.31%.

Analysts Set New Price Targets

A number of research firms recently commented on CVX. Jefferies Financial Group began coverage on Chevron in a research report on Wednesday, October 19th. They issued a “hold” rating on the stock. Morgan Stanley boosted their target price on Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Piper Sandler decreased their target price on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Wells Fargo & Company upped their price objective on Chevron from $199.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Finally, Mizuho downgraded Chevron from a “buy” rating to a “neutral” rating and upped their price objective for the company from $185.00 to $200.00 in a research report on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $186.67.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 55,380 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Michael K. Wirth sold 55,380 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP R. Hewitt Pate sold 32,391 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 293,563 shares of company stock valued at $53,186,421 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.