Clarity Financial LLC Sells 396 Shares of Chevron Co. (NYSE:CVX)

Clarity Financial LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 6.6% in the fourth quarter, Holdings Channel reports. The fund owned 5,614 shares of the oil and gas company’s stock after selling 396 shares during the period. Clarity Financial LLC’s holdings in Chevron were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter worth $31,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron during the third quarter worth $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.3 %

CVX opened at $156.19 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $280.68 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.35 and a beta of 1.12. The firm’s 50-day simple moving average is $153.56 and its 200-day simple moving average is $151.16. 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 posted its quarterly earnings data 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. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Truist Financial upped their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.