Solidarity Wealth LLC Sells 1,281 Shares of Chevron Co. (NYSE:CVX)

Solidarity Wealth LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 31.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,736 shares of the oil and gas company’s stock after selling 1,281 shares during the period. Solidarity Wealth LLC’s holdings in Chevron were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. ARS Investment Partners LLC lifted its holdings in Chevron by 3.4% during the 4th quarter. ARS Investment Partners LLC now owns 74,318 shares of the oil and gas company’s stock valued at $10,764,000 after purchasing an additional 2,447 shares during the last quarter. Royal Fund Management LLC grew its stake in Chevron by 390.3% in the 4th quarter. Royal Fund Management LLC now owns 19,946 shares of the oil and gas company’s stock valued at $2,890,000 after buying an additional 15,878 shares during the last quarter. Reliant Investment Management LLC raised its holdings in Chevron by 7.9% in the 4th quarter. Reliant Investment Management LLC now owns 1,778 shares of the oil and gas company’s stock valued at $258,000 after acquiring an additional 130 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in Chevron by 4.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 13,380 shares of the oil and gas company’s stock worth $1,938,000 after acquiring an additional 617 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Chevron by 7.3% during the fourth quarter. Ballentine Partners LLC now owns 33,901 shares of the oil and gas company’s stock worth $4,910,000 after acquiring an additional 2,297 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CVX shares. Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Barclays raised their price target 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. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Scotiabank dropped 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $158.16 on Wednesday. The stock has a market cap of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s 50-day moving average price is $154.03 and its two-hundred day moving average price is $151.04.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.05 EPS. As a group, analysts expect that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.