FourThought Financial Partners LLC Cuts Position in Chevron Co. (NYSE:CVX)

FourThought Financial Partners LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,774 shares of the oil and gas company’s stock after selling 14,093 shares during the period. Chevron comprises about 1.6% of FourThought Financial Partners LLC’s portfolio, making the stock its 13th largest holding. FourThought Financial Partners LLC’s holdings in Chevron were worth $15,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter worth about $25,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of NYSE CVX opened at $157.85 on Tuesday. The firm has a market cap of $283.68 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business’s 50 day moving average is $152.14 and its two-hundred day moving average is $151.20.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 previous year, the business posted $3.45 earnings per share. Research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.