Alta Wealth Advisors LLC Sells 5,996 Shares of Chevron Co. (NYSE:CVX)

Alta Wealth Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 67.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,875 shares of the oil and gas company’s stock after selling 5,996 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Chevron were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CVX. Norges Bank bought a new stake in Chevron during the fourth quarter valued at $2,902,007,000. Massachusetts Financial Services Co. MA boosted its position in Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. International Assets Investment Management LLC boosted its position in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the last quarter. Morgan Stanley boosted its position in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Chevron during the third quarter valued at $348,789,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada upped their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.10.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.5 %

NYSE:CVX traded up $0.81 during mid-day trading on Monday, hitting $157.75. 4,477,700 shares of the company’s stock were exchanged, compared to its average volume of 8,141,598. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The business has a fifty day moving average price of $160.22 and a 200 day moving average price of $152.61. The company has a market cap of $290.73 billion, a PE ratio of 14.51, a P/E/G ratio of 2.33 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

About Chevron

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.