Chevron Co. (NYSE:CVX) Stake Reduced by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 27.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,948 shares of the oil and gas company’s stock after selling 1,505 shares during the period. Centennial Wealth Advisory LLC’s holdings in Chevron were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CVX. NovaPoint Capital LLC grew its stake in shares of Chevron by 8.3% in the fourth quarter. NovaPoint Capital LLC now owns 16,726 shares of the oil and gas company’s stock worth $2,423,000 after purchasing an additional 1,276 shares in the last quarter. Vision Capital Management Inc. grew its stake in shares of Chevron by 4.6% in the fourth quarter. Vision Capital Management Inc. now owns 4,668 shares of the oil and gas company’s stock worth $676,000 after purchasing an additional 205 shares in the last quarter. Trilogy Capital Inc. boosted its stake in Chevron by 16.3% during the fourth quarter. Trilogy Capital Inc. now owns 25,147 shares of the oil and gas company’s stock valued at $3,642,000 after buying an additional 3,520 shares in the last quarter. Inman Jager Wealth Management LLC bought a new position in Chevron during the fourth quarter valued at about $2,422,000. Finally, Absher Wealth Management LLC boosted its stake in Chevron by 10.5% during the fourth quarter. Absher Wealth Management LLC now owns 153,988 shares of the oil and gas company’s stock valued at $22,304,000 after buying an additional 14,667 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents 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.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. 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. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Finally, Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.1 %

Shares of CVX stock opened at $153.01 on Thursday. The stock’s 50 day simple moving average is $152.79 and its 200 day simple moving average is $150.89. 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 twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $274.98 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

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.