Goelzer Investment Management Inc. Sells 1,538 Shares of Chevron Co. (NYSE:CVX)

Goelzer Investment Management Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,211 shares of the oil and gas company’s stock after selling 1,538 shares during the quarter. Chevron comprises 0.7% of Goelzer Investment Management Inc.’s portfolio, making the stock its 24th biggest holding. Goelzer Investment Management Inc.’s holdings in Chevron were worth $11,763,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring 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 valued at $1,212,000 after purchasing an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC grew its holdings in shares of Chevron by 0.7% during 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 purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC increased its stake in shares of 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 valued at $201,000 after buying an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $155.62 on Friday. The firm has a fifty day simple moving average of $153.81 and a two-hundred day simple moving average of $151.15. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock 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. 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 issued its earnings results 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 during 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.05 EPS. Analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.