Eagle Bay Advisors LLC Sells 342 Shares of Chevron Co. (NYSE:CVX)

Eagle Bay Advisors LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 27.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 914 shares of the oil and gas company’s stock after selling 342 shares during the period. Eagle Bay Advisors LLC’s holdings in Chevron were worth $132,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX traded up $1.65 during trading hours on Monday, hitting $154.79. The stock had a trading volume of 4,439,510 shares, compared to its average volume of 7,072,163. The company’s fifty day simple moving average is $153.69 and its 200 day simple moving average is $150.95. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $278.17 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. 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 (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business 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 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current 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 paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.21%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Insiders Place Their Bets

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