Hummer Financial Advisory Services Inc Sells 200 Shares of Chevron Co. (NYSE:CVX)

Hummer Financial Advisory Services Inc lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,233 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in Chevron were worth $613,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marietta Wealth Management LLC lifted its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC lifted its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC lifted its stake in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp lifted its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Chevron Trading Up 1.0 %

Chevron stock opened at $156.85 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $281.87 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. The firm has a 50 day moving average of $153.78 and a 200 day moving average of $150.95.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping 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 business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company posted $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.