Simplicity Wealth LLC Sells 6,084 Shares of Chevron Co. (NYSE:CVX)

Simplicity Wealth LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 49.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,130 shares of the oil and gas company’s stock after selling 6,084 shares during the quarter. Simplicity Wealth LLC’s holdings in Chevron were worth $888,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new stake in Chevron during the fourth quarter valued at approximately $25,000. 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, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Chevron stock opened at $156.48 on Monday. The company has a market cap of $275.51 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. The firm’s fifty day moving average is $154.08 and its 200 day moving average is $151.78. 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.

Chevron (NYSE:CVX) last released its quarterly 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 quarter in the previous year, the company posted $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.