Chevron Co. (NYSE:CVX) Position Lowered by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX) by 16.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,301 shares of the oil and gas company’s stock after selling 1,219 shares during the period. Brendel Financial Advisors LLC’s holdings in Chevron were worth $913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CVX shares. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $158.25 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $284.39 billion, a P/E ratio of 17.39, a PEG ratio of 2.62 and a beta of 1.12. The stock has a fifty day moving average price of $153.78 and a two-hundred day moving average price of $150.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company 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 company earned $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio is currently 71.65%.

Chevron Company 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.