Mitchell Mcleod Pugh & Williams Inc. Sells 1,773 Shares of Chevron Co. (NYSE:CVX)

Mitchell Mcleod Pugh & Williams Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,275 shares of the oil and gas company’s stock after selling 1,773 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Chevron were worth $3,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CVX. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter worth $29,000. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter valued at about $31,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron during the third quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE:CVX opened at $158.16 on Wednesday. The stock has a market cap of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 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. The business’s 50-day simple moving average is $154.03 and its two-hundred day simple moving average is $151.04. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly 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 net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.21 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity at Chevron

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.