Chevron Co. (NYSE:CVX) Shares Sold by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,537 shares of the oil and gas company’s stock after selling 151 shares during the period. Petra Financial Advisors Inc.’s holdings in Chevron were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CVX. Argent Advisors Inc. grew its stake in Chevron by 6.2% during the 4th quarter. Argent Advisors Inc. now owns 9,279 shares of the oil and gas company’s stock valued at $1,344,000 after acquiring an additional 542 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter valued at about $1,071,000. Wealth Architects LLC grew its stake in Chevron by 24.3% during the 4th quarter. Wealth Architects LLC now owns 3,530 shares of the oil and gas company’s stock valued at $511,000 after acquiring an additional 691 shares in the last quarter. Signaturefd LLC grew its stake in Chevron by 5.1% during the 4th quarter. Signaturefd LLC now owns 22,874 shares of the oil and gas company’s stock valued at $3,313,000 after acquiring an additional 1,113 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Chevron by 53.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 21,721 shares of the oil and gas company’s stock valued at $3,146,000 after buying an additional 7,567 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Chevron stock opened at $158.69 on Tuesday. The firm has a market cap of $279.38 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week 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 company’s 50 day moving average is $155.26 and its two-hundred day moving average is $152.14.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 quarter last year, the business earned $3.45 EPS. On average, research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio is 70.37%.

Analyst Ratings Changes

Several analysts have recently weighed in on CVX shares. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.