Iams Wealth Management LLC Sells 1,061 Shares of Chevron Co. (NYSE:CVX)

Iams Wealth Management LLC reduced its position in Chevron Co. (NYSE:CVX) by 8.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,233 shares of the oil and gas company’s stock after selling 1,061 shares during the period. Iams Wealth Management LLC’s holdings in Chevron were worth $1,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVX. Tacita Capital Inc lifted its holdings in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares in the last quarter. Wallace Capital Management Inc. lifted its holdings in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares in the last quarter. S.A. Mason LLC lifted its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC lifted its stake in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after buying an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $155.79 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $279.97 billion, a PE ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. The firm has a 50-day simple moving average of $153.67 and a two-hundred day simple moving average of $151.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVX. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler cut their price objective 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently 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.