Grey Fox Wealth Advisors LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Grey Fox Wealth Advisors LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 7.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,232 shares of the oil and gas company’s stock after selling 173 shares during the quarter. Grey Fox Wealth Advisors LLC’s holdings in Chevron were worth $352,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ellenbecker Investment Group grew its stake in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. Octavia Wealth Advisors LLC increased its stake in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares during the period. Investment Partners LTD. lifted its position in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 68 shares in the last quarter. Certified Advisory Corp raised its holdings in shares of Chevron by 0.4% during the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock worth $2,404,000 after acquiring an additional 68 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its stake in Chevron by 2.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 69 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.9 %

CVX traded down $1.36 during mid-day trading on Friday, reaching $155.28. The stock had a trading volume of 21,292,090 shares, compared to its average volume of 6,185,036. The stock has a market capitalization of $286.18 billion, a P/E ratio of 14.29, a P/E/G ratio of 2.33 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm’s fifty day simple moving average is $159.25 and its two-hundred day simple moving average is $154.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 13.45 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CVX shares. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock valued at $3,176,223. Company 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.