ROI Financial Advisors LLC Sells 486 Shares of Chevron Co. (NYSE:CVX)

ROI Financial Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,654 shares of the oil and gas company’s stock after selling 486 shares during the period. ROI Financial Advisors LLC’s holdings in Chevron were worth $384,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Chevron in the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron in the fourth quarter worth about $1,036,302,000. Bank of New York Mellon Corp boosted its position in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Amundi grew its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock worth $122,741,000 after acquiring an additional 843,756 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX opened at $143.10 on Friday. 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 Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The stock’s 50 day simple moving average is $157.38 and its 200 day simple moving average is $154.10. The firm has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $3.45 earnings per share. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. 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 dividend yield of 4.78%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.