West Bancorporation Inc. Reduces Holdings in Chevron Co. (NYSE:CVX)

West Bancorporation Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 8.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,103 shares of the oil and gas company’s stock after selling 200 shares during the period. West Bancorporation Inc.’s holdings in Chevron were worth $305,000 at the end of the most recent quarter.

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

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 4.5 %

NYSE:CVX opened at $149.21 on Friday. The stock has a market cap of $268.14 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.12. 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 company’s 50 day moving average price is $153.46 and its 200-day moving average price is $151.20. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

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 return on equity of 13.15% and a net margin of 8.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.