Financial Advisory Partners LLC Sells 332 Shares of Chevron Co. (NYSE:CVX)

Financial Advisory Partners LLC cut its holdings in Chevron Co. (NYSE:CVX) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,315 shares of the oil and gas company’s stock after selling 332 shares during the period. Financial Advisory Partners LLC’s holdings in Chevron were worth $2,798,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CVX. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter worth approximately $29,000. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Down 0.1 %

NYSE CVX opened at $153.01 on Thursday. The company has a market cap of $274.98 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month 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 business’s fifty day moving average is $152.79 and its 200 day moving average is $150.89.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business earned $3.45 EPS. As a group, sell-side analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.