Courier Capital LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Courier Capital LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,770 shares of the oil and gas company’s stock after selling 3,219 shares during the quarter. Courier Capital LLC’s holdings in Chevron were worth $8,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVX. Parisi Gray Wealth Management increased its stake in shares of Chevron by 5.6% in the fourth quarter. Parisi Gray Wealth Management now owns 2,435 shares of the oil and gas company’s stock worth $353,000 after purchasing an additional 130 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Chevron by 4.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 18,792 shares of the oil and gas company’s stock worth $2,722,000 after buying an additional 859 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of Chevron by 161.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 69,946 shares of the oil and gas company’s stock worth $10,131,000 after acquiring an additional 43,243 shares during the last quarter. Sunflower Bank N.A. increased its holdings in Chevron by 13.2% in the 4th quarter. Sunflower Bank N.A. now owns 3,356 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 391 shares during the last quarter. Finally, Burns J W & Co. Inc. NY lifted its stake in Chevron by 3.7% in the 4th quarter. Burns J W & Co. Inc. NY now owns 77,215 shares of the oil and gas company’s stock worth $11,184,000 after purchasing an additional 2,724 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.3 %

Chevron stock opened at $155.07 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market cap of $278.67 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50-day moving average of $153.71 and a two-hundred day moving average of $150.94.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Truist Financial increased their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Barclays boosted their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

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.