Chevron Co. (NYSE:CVX) Holdings Lowered by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 45.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,238 shares of the oil and gas company’s stock after selling 6,096 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Chevron were worth $1,048,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. Tacita Capital Inc lifted its holdings in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. boosted its holdings in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares in the last quarter. TFB Advisors LLC increased its holdings in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its stake in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after acquiring an additional 66 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after purchasing an additional 66 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $150.93 on Thursday. The company has a market capitalization of $265.73 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a 50 day moving average of $153.65 and a two-hundred day moving average of $151.61.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 company posted $3.45 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.53%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James decreased their price objective 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. Barclays decreased 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. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.