Chevron Co. (NYSE:CVX) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its stake in Chevron Co. (NYSE:CVX) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,140 shares of the oil and gas company’s stock after selling 16,071 shares during the period. Orion Portfolio Solutions LLC’s holdings in Chevron were worth $24,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth approximately $31,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lifted their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Friday. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.94.

Chevron Stock Performance

NYSE CVX opened at $155.25 on Friday. The firm has a market cap of $279.00 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.50 and a beta of 1.10. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business’s 50-day moving average price is $154.57 and its 200 day moving average price is $152.55. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.