Chevron Co. (NYSE:CVX) Stock Holdings Reduced by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,923 shares of the oil and gas company’s stock after selling 197 shares during the period. Firethorn Wealth Partners LLC’s holdings in Chevron were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter worth about $29,000. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter worth approximately $31,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the third quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX opened at $155.62 on Friday. The firm has a market capitalization of $279.66 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day simple moving average of $153.81 and a 200 day simple moving average of $151.15. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the company posted $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.18 EPS for the current 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 through the SEC website. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.