Chevron Co. (NYSE:CVX) Shares Sold by HCR Wealth Advisors

HCR Wealth Advisors cut its stake in shares of Chevron Co. (NYSE:CVX) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,100 shares of the oil and gas company’s stock after selling 1,364 shares during the quarter. HCR Wealth Advisors’ holdings in Chevron were worth $2,911,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. raised its position in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC raised its position in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares in the last quarter. S.A. Mason LLC raised its position in Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.6 %

CVX opened at $159.33 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $286.32 billion, a P/E ratio of 17.51, a PEG ratio of 2.62 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The business’s fifty day simple moving average is $153.79 and its 200 day simple moving average is $151.00.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.05 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

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.