Chevron Co. (NYSE:CVX) Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC reduced its position in Chevron Co. (NYSE:CVX – Get Rating) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 31,980 shares of the oil and gas company’s stock after selling 847 shares during the quarter. Chevron makes up approximately 2.3% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 12th biggest position. Trinity Legacy Partners LLC’s holdings in Chevron were worth $5,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Good Life Advisors LLC lifted its stake in shares of Chevron by 2.6% in the 3rd quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock valued at $4,031,000 after purchasing an additional 719 shares in the last quarter. Sage Mountain Advisors LLC raised its holdings in shares of Chevron by 77.1% during the 2nd quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 2,632 shares during the period. CapWealth Advisors LLC raised its holdings in shares of Chevron by 0.6% during the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after buying an additional 1,097 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of Chevron by 0.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after buying an additional 155 shares during the period. Finally, Cypress Capital Management LLC raised its holdings in shares of Chevron by 0.6% during the 3rd quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock valued at $6,743,000 after buying an additional 293 shares during the period. 69.37% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 1.3 %

NYSE:CVX opened at $152.34 on Friday. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The firm has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The business has a 50 day simple moving average of $169.06 and a 200 day simple moving average of $169.38.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 14.87 EPS for the current year.

Chevron declared that its Board of Directors has initiated a share buyback program on Wednesday, January 25th that allows the company to buyback $75.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s payout ratio is 33.04%.

Insiders Place Their Bets

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares in the company, valued at approximately $674,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Barclays raised their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Raymond James dropped their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. Cowen dropped their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Truist Financial lifted their price objective on Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a report on Tuesday, January 31st. Finally, Piper Sandler dropped their price objective on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $189.50.

About Chevron

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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.