Naviter Wealth LLC Decreases Position in Chevron Co. (NYSE:CVX)

Naviter Wealth LLC decreased its position in Chevron Co. (NYSE:CVX) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,504 shares of the oil and gas company’s stock after selling 2,335 shares during the period. Naviter Wealth LLC’s holdings in Chevron were worth $1,418,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC purchased a new position in Chevron during the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc increased its position in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX stock opened at $165.21 on Tuesday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm’s fifty day moving average is $156.81 and its 200 day moving average is $151.70. The firm has a market cap of $306.84 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Finally, TD Cowen raised their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.25.

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.