Chemistry Wealth Management LLC Sells 104 Shares of Chevron Co. (NYSE:CVX)

Chemistry Wealth Management LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,040 shares of the oil and gas company’s stock after selling 104 shares during the period. Chemistry Wealth Management LLC’s holdings in Chevron were worth $585,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP bought a new stake in shares of Chevron during the second quarter valued at approximately $1,335,000. Cowa LLC increased its position in shares of Chevron by 8.5% during the second quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 300 shares during the period. Brighton Jones LLC increased its position in shares of Chevron by 6.8% during the second quarter. Brighton Jones LLC now owns 24,672 shares of the oil and gas company’s stock valued at $3,859,000 after purchasing an additional 1,581 shares during the period. Ieq Capital LLC increased its position in shares of Chevron by 9.0% during the second quarter. Ieq Capital LLC now owns 102,975 shares of the oil and gas company’s stock valued at $16,107,000 after purchasing an additional 8,518 shares during the period. Finally, GM Advisory Group LLC increased its position in shares of Chevron by 0.5% during the second quarter. GM Advisory Group LLC now owns 20,961 shares of the oil and gas company’s stock valued at $3,279,000 after purchasing an additional 104 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. UBS Group boosted their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Finally, Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Chevron stock opened at $161.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The business’s fifty day moving average is $153.84 and its two-hundred day moving average is $151.06. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.05 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

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.