Chevron Co. (NYSE:CVX) Shares Sold by Ellenbecker Investment Group

Ellenbecker Investment Group lessened its holdings in Chevron Co. (NYSE:CVX) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,493 shares of the oil and gas company’s stock after selling 644 shares during the quarter. Ellenbecker Investment Group’s holdings in Chevron were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in shares of Chevron by 5.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock worth $7,555,000 after purchasing an additional 2,385 shares during the period. Fairfield Financial Advisors LTD acquired a new position in Chevron during the second quarter worth about $591,000. Black Diamond Financial LLC purchased a new position in Chevron in the second quarter valued at about $301,000. Massachusetts Financial Services Co. MA lifted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $155.07 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50 day moving average price of $153.71 and a 200 day moving average price of $150.94. The company has a market cap of $278.67 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

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.