Philip James Wealth Mangement LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Philip James Wealth Mangement LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,587 shares of the oil and gas company’s stock after selling 1,845 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Chevron were worth $5,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Stratos Wealth Partners LTD. grew its holdings in shares of Chevron by 0.4% during the third quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after buying an additional 261 shares in the last quarter. Seamount Financial Group Inc. grew its holdings in shares of Chevron by 1.8% during the third quarter. Seamount Financial Group Inc. now owns 6,425 shares of the oil and gas company’s stock worth $946,000 after buying an additional 115 shares in the last quarter. Embree Financial Group grew its holdings in shares of Chevron by 6.5% during the third quarter. Embree Financial Group now owns 10,503 shares of the oil and gas company’s stock worth $1,547,000 after buying an additional 644 shares in the last quarter. Chicago Capital LLC grew its holdings in shares of Chevron by 3.0% during the third quarter. Chicago Capital LLC now owns 9,733 shares of the oil and gas company’s stock worth $1,433,000 after buying an additional 279 shares in the last quarter. Finally, Alta Wealth Advisors LLC grew its holdings in shares of Chevron by 22.9% during the third quarter. Alta Wealth Advisors LLC now owns 3,344 shares of the oil and gas company’s stock worth $492,000 after buying an additional 624 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVX. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Down 0.4 %

NYSE CVX opened at $155.32 on Monday. The company’s fifty day simple moving average is $151.86 and its 200-day simple moving average is $150.80. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.12 billion, a P/E ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

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.