Chevron Co. (NYSE:CVX) Shares Sold by Collective Family Office LLC

Collective Family Office LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,256 shares of the oil and gas company’s stock after selling 185 shares during the period. Collective Family Office LLC’s holdings in Chevron were worth $761,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lantz Financial LLC raised its holdings in shares of Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 623 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Chevron by 4,325.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock worth $404,000 after acquiring an additional 252,212 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Chevron by 594.0% in the 2nd quarter. Acadian Asset Management LLC now owns 141,091 shares of the oil and gas company’s stock valued at $22,062,000 after acquiring an additional 120,760 shares during the last quarter. Lane & Associates LLC raised its position in shares of Chevron by 14.2% during the 2nd quarter. Lane & Associates LLC now owns 2,495 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 310 shares in the last quarter. Finally, LGT Fund Management Co Ltd. boosted its holdings in Chevron by 318.9% in the second quarter. LGT Fund Management Co Ltd. now owns 26,245 shares of the oil and gas company’s stock valued at $4,105,000 after purchasing an additional 19,980 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock traded up $0.49 during trading hours on Wednesday, reaching $150.08. 2,519,497 shares of the company’s stock were exchanged, compared to its average volume of 5,789,500. 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 Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $269.71 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company’s 50 day moving average is $153.63 and its two-hundred day moving average is $151.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating 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 company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.34%. Chevron’s payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Truist Financial boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.19.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.