Prospect Financial Services LLC Sells 204 Shares of Chevron Co. (NYSE:CVX)

Prospect Financial Services LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,048 shares of the oil and gas company’s stock after selling 204 shares during the quarter. Prospect Financial Services LLC’s holdings in Chevron were worth $297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Fisher Asset Management LLC lifted its holdings in Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after purchasing an additional 672,244 shares in the last quarter. Franklin Resources Inc. boosted its stake in Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after purchasing an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Chevron by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after buying an additional 138,496 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays raised 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. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Performance

NYSE:CVX opened at $156.24 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $280.78 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The business has a 50 day moving average price of $153.74 and a 200-day moving average price of $151.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping 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 net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 EPS. Equities research analysts predict that Chevron Co. will post 10.18 earnings per share 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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. 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 business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron 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.