Capital Market Strategies LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Capital Market Strategies LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,679 shares of the oil and gas company’s stock after selling 114 shares during the period. Capital Market Strategies LLC’s holdings in Chevron were worth $533,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVX. Lantz Financial LLC increased its stake in shares of Chevron by 2.7% during the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after acquiring an additional 623 shares during the period. Umpqua Bank lifted its holdings in shares of Chevron by 5.7% in the 2nd quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock valued at $3,101,000 after buying an additional 1,078 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Chevron by 4,325.4% in the second quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares in the last quarter. Chris Bulman Inc acquired a new position in Chevron during the second quarter worth $76,000. Finally, Delta Financial Advisors LLC raised its position in Chevron by 32.1% in the second quarter. Delta Financial Advisors LLC now owns 20,231 shares of the oil and gas company’s stock worth $3,165,000 after acquiring an additional 4,921 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.46 during mid-day trading on Monday, hitting $148.31. The company had a trading volume of 2,959,551 shares, compared to its average volume of 5,222,015. The business has a fifty day simple moving average of $153.67 and a 200-day simple moving average of $151.21. The firm has a market capitalization of $266.53 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup raised 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 note on Tuesday, November 26th. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Truist Financial upped their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.19.

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.