Chevron Co. (NYSE:CVX) Shares Sold by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,934 shares of the oil and gas company’s stock after selling 90 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Chevron were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $156.24 on Wednesday. The firm has a market capitalization of $280.78 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a 50 day moving average price of $153.74 and a 200 day moving average price of $151.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. 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 (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company posted $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Raymond James raised their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.