Cornerstone Planning Group LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Cornerstone Planning Group LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 15.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 487 shares of the oil and gas company’s stock after selling 91 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Chevron were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. InTrack Investment Management Inc boosted its holdings in shares of Chevron by 5.3% in the third quarter. InTrack Investment Management Inc now owns 13,209 shares of the oil and gas company’s stock worth $1,945,000 after buying an additional 663 shares during the last quarter. City State Bank increased its position in Chevron by 6.0% in the third quarter. City State Bank now owns 6,217 shares of the oil and gas company’s stock worth $916,000 after purchasing an additional 350 shares during the last quarter. Compton Wealth Advisory Group LLC increased its position in Chevron by 3.9% in the third quarter. Compton Wealth Advisory Group LLC now owns 15,157 shares of the oil and gas company’s stock worth $2,232,000 after purchasing an additional 572 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Chevron by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 139,783 shares of the oil and gas company’s stock worth $20,586,000 after buying an additional 26,002 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in shares of Chevron by 1.0% during the third quarter. CHICAGO TRUST Co NA now owns 33,811 shares of the oil and gas company’s stock valued at $4,979,000 after purchasing an additional 327 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Truist Financial decreased 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. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

NYSE CVX opened at $152.54 on Monday. The company has a market cap of $274.13 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day moving average of $152.21 and a two-hundred day moving average of $150.85. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 last year, the company earned $3.45 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently announced 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 4.48%. 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.