Chevron Co. (NYSE:CVX) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lowered its position in Chevron Co. (NYSE:CVX) by 12.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,782 shares of the oil and gas company’s stock after selling 1,131 shares during the period. Wrapmanager Inc.’s holdings in Chevron were worth $1,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC purchased a new position in Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $157.85 on Tuesday. 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 company has a market cap of $283.68 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The stock’s 50-day moving average is $152.14 and its two-hundred day moving average is $151.20. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its 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 in the previous year, the business earned $3.45 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their price target 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. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.