McKinley Carter Wealth Services Inc. Lowers Position in Chevron Co. (NYSE:CVX)

McKinley Carter Wealth Services Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,345 shares of the oil and gas company’s stock after selling 776 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Chevron were worth $2,947,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Tacita Capital Inc lifted its stake in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares in the last quarter. Wallace Capital Management Inc. raised its holdings in shares of Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares during the period. Cyndeo Wealth Partners LLC lifted its position in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares in the last quarter. S.A. Mason LLC boosted its holdings in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the period. Finally, Jag Capital Management LLC grew its position in Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity at Chevron

In other 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 completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.3 %

CVX stock opened at $155.79 on Thursday. The firm has a market cap of $279.97 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.37 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 firm has a fifty day moving average price of $153.67 and a two-hundred day moving average price of $151.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.