Equitable Trust Co. Sells 1,679 Shares of Chevron Co. (NYSE:CVX)

Equitable Trust Co. decreased its stake in Chevron Co. (NYSE:CVX) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,047 shares of the oil and gas company’s stock after selling 1,679 shares during the period. Equitable Trust Co.’s holdings in Chevron were worth $5,221,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Global Wealth Management Investment Advisory Inc. raised its position in Chevron by 10.7% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 63,389 shares of the oil and gas company’s stock worth $9,181,000 after acquiring an additional 6,149 shares during the period. Eukles Asset Management increased its stake in shares of Chevron by 3.8% in the fourth quarter. Eukles Asset Management now owns 2,927 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 107 shares in the last quarter. Soltis Investment Advisors LLC increased its stake in shares of Chevron by 12.4% in the fourth quarter. Soltis Investment Advisors LLC now owns 79,500 shares of the oil and gas company’s stock worth $11,515,000 after purchasing an additional 8,744 shares in the last quarter. Thomas Story & Son LLC increased its stake in shares of Chevron by 43.4% in the fourth quarter. Thomas Story & Son LLC now owns 49,800 shares of the oil and gas company’s stock worth $7,213,000 after purchasing an additional 15,080 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its stake in shares of Chevron by 8.3% in the fourth quarter. Silicon Valley Capital Partners now owns 6,766 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 0.4 %

Shares of CVX opened at $152.54 on Monday. The firm has a market cap of $274.13 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.39 and a beta of 1.11. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50 day moving average price of $152.21 and a 200-day moving average price of $150.85.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 in the prior year, the business earned $3.45 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.