Partnership Wealth Management LLC Sells 100 Shares of Chevron Co. (NYSE:CVX)

Partnership Wealth Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,800 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Partnership Wealth Management LLC’s holdings in Chevron were worth $840,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rational Advisors LLC bought a new stake in Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Truist Financial increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.19.

Chevron Trading Up 0.2 %

Shares of Chevron stock traded up $0.29 on Wednesday, reaching $149.88. The company had a trading volume of 7,557,876 shares, compared to its average volume of 6,832,494. The firm has a market cap of $269.35 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.93 and a beta of 1.12. The firm’s 50-day moving average price is $153.63 and its two-hundred day moving average price is $151.10. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s dividend payout ratio is 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was 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 owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.