Lyell Wealth Management LP Sells 4,356 Shares of Chevron Co. (NYSE:CVX)

Lyell Wealth Management LP reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,753 shares of the oil and gas company’s stock after selling 4,356 shares during the quarter. Lyell Wealth Management LP’s holdings in Chevron were worth $6,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after acquiring an additional 27,483 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Chevron by 1.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 183,558 shares of the oil and gas company’s stock worth $27,032,000 after buying an additional 2,671 shares during the last quarter. Plimoth Trust Co. LLC grew its position in shares of Chevron by 0.5% in the third quarter. Plimoth Trust Co. LLC now owns 38,533 shares of the oil and gas company’s stock valued at $5,675,000 after purchasing an additional 199 shares in the last quarter. Community Financial Services Group LLC grew its position in shares of Chevron by 3.4% in the third quarter. Community Financial Services Group LLC now owns 14,320 shares of the oil and gas company’s stock valued at $2,109,000 after purchasing an additional 473 shares in the last quarter. Finally, Waterway Wealth Management LLC boosted its stake in Chevron by 5.3% during the third quarter. Waterway Wealth Management LLC now owns 7,077 shares of the oil and gas company’s stock valued at $1,042,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. 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 report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was 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 this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

CVX stock opened at $156.23 on Wednesday. The company has a market cap of $280.76 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a 50-day moving average of $151.80 and a two-hundred day moving average of $150.81.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.