Chevron Co. (NYSE:CVX) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 19.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,055 shares of the oil and gas company’s stock after selling 1,999 shares during the period. Wellington Shields Capital Management LLC’s holdings in Chevron were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter valued at about $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVX. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $153.56 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $270.35 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a fifty day simple moving average of $154.85 and a 200-day simple moving average of $151.92.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 period last year, the business earned $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.45%. Chevron’s payout ratio is presently 70.37%.

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.