Pathway Financial Advisers LLC Sells 3,874,360 Shares of Chevron Co. (NYSE:CVX)

Pathway Financial Advisers LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 99.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,985 shares of the oil and gas company’s stock after selling 3,874,360 shares during the quarter. Chevron makes up approximately 1.3% of Pathway Financial Advisers LLC’s portfolio, making the stock its 23rd biggest position. Pathway Financial Advisers LLC’s holdings in Chevron were worth $3,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 1.6 %

Shares of NYSE:CVX opened at $154.91 on Thursday. The company has a market cap of $278.39 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day moving average price of $151.92 and a two-hundred day moving average price of $150.84. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly 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 period in the prior year, the business posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

About Chevron

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.