Chevron Co. (NYSE:CVX) Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,189 shares of the oil and gas company’s stock after selling 67 shares during the period. Strategic Advisors LLC’s holdings in Chevron were worth $3,359,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Chevron during the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new position in Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter valued at $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $155.32 on Monday. 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 $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. The firm has a 50-day simple moving average of $151.86 and a two-hundred day simple moving average of $150.80. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVX. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron 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.