MKT Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,376 shares of the oil and gas company’s stock after selling 119 shares during the quarter. MKT Advisors LLC’s holdings in Chevron were worth $489,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CVX. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter worth approximately $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CVX. Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research 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.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.
Insider Transactions at Chevron
In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.
Chevron Price Performance
CVX opened at $157.20 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $282.50 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.37 and a beta of 1.12. The company’s 50-day simple moving average is $153.81 and its two-hundred day simple moving average is $151.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 10.18 EPS for the current year.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 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.
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