Mutual Advisors LLC Has $13.48 Million Position in Chevron Co. (NYSE:CVX)

Mutual Advisors LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,587 shares of the oil and gas company’s stock after selling 3,962 shares during the quarter. Mutual Advisors LLC’s holdings in Chevron were worth $13,481,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. True North Advisors LLC grew its position in Chevron by 62.2% in the 4th quarter. True North Advisors LLC now owns 12,146 shares of the oil and gas company’s stock valued at $1,759,000 after purchasing an additional 4,657 shares during the period. Traynor Capital Management Inc. grew its position in Chevron by 24.6% in the 4th quarter. Traynor Capital Management Inc. now owns 21,822 shares of the oil and gas company’s stock valued at $3,161,000 after purchasing an additional 4,314 shares during the period. Independent Wealth Network Inc. grew its position in Chevron by 6.1% in the 4th quarter. Independent Wealth Network Inc. now owns 30,039 shares of the oil and gas company’s stock valued at $4,351,000 after purchasing an additional 1,723 shares during the period. Wesbanco Bank Inc. grew its position in Chevron by 3.8% in the 4th quarter. Wesbanco Bank Inc. now owns 237,260 shares of the oil and gas company’s stock valued at $34,365,000 after purchasing an additional 8,626 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Chevron by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,203,001 shares of the oil and gas company’s stock valued at $174,243,000 after purchasing an additional 19,502 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVX shares. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Down 0.3 %

Shares of Chevron stock opened at $155.62 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50-day simple moving average is $153.93 and its 200 day simple moving average is $151.14. The stock has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 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.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (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 business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the business posted $3.05 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared 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 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.