Resolute Wealth Strategies LLC Cuts Holdings in Chevron Co. (NYSE:CVX)

Resolute Wealth Strategies LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,930 shares of the oil and gas company’s stock after selling 301 shares during the quarter. Resolute Wealth Strategies LLC’s holdings in Chevron were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Unified Investment Management purchased a new position in Chevron during the fourth quarter worth approximately $729,000. Schechter Investment Advisors LLC raised its stake in shares of Chevron by 5.5% during the 4th quarter. Schechter Investment Advisors LLC now owns 14,947 shares of the oil and gas company’s stock worth $2,165,000 after buying an additional 782 shares during the period. Bravias Capital Group LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $257,000. ACR Alpine Capital Research LLC lifted its position in shares of Chevron by 51.5% during the 4th quarter. ACR Alpine Capital Research LLC now owns 2,159,396 shares of the oil and gas company’s stock valued at $312,767,000 after buying an additional 734,482 shares in the last quarter. Finally, Mission Wealth Management LP grew its stake in Chevron by 14.1% in the 4th quarter. Mission Wealth Management LP now owns 39,474 shares of the oil and gas company’s stock valued at $5,717,000 after acquiring an additional 4,893 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, 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 hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 3.5 %

Shares of CVX opened at $153.05 on Tuesday. 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 stock has a fifty day simple moving average of $153.35 and a two-hundred day simple moving average of $151.58. The company has a market capitalization of $269.46 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 last year, the firm earned $3.45 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

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