Ibex Wealth Advisors Sells 12,225 Shares of Chevron Co. (NYSE:CVX)

Ibex Wealth Advisors reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,424 shares of the oil and gas company’s stock after selling 12,225 shares during the quarter. Ibex Wealth Advisors’ holdings in Chevron were worth $6,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CVX. Invesco LLC raised its holdings in shares of Chevron by 0.9% during the fourth quarter. Invesco LLC now owns 11,766 shares of the oil and gas company’s stock valued at $1,704,000 after purchasing an additional 108 shares during the last quarter. Orrstown Financial Services Inc. grew its position in Chevron by 9.6% in the 4th quarter. Orrstown Financial Services Inc. now owns 8,916 shares of the oil and gas company’s stock worth $1,291,000 after purchasing an additional 780 shares during the period. Allen Capital Group LLC raised its stake in Chevron by 10.1% during the 4th quarter. Allen Capital Group LLC now owns 29,414 shares of the oil and gas company’s stock valued at $4,260,000 after buying an additional 2,701 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in shares of Chevron by 15.4% during the 4th quarter. Strategic Blueprint LLC now owns 24,860 shares of the oil and gas company’s stock valued at $3,601,000 after buying an additional 3,318 shares during the period. Finally, Foster Victor Wealth Advisors LLC boosted its stake in shares of Chevron by 8.0% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 65,601 shares of the oil and gas company’s stock worth $9,502,000 after buying an additional 4,861 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX opened at $155.79 on Thursday. The firm has a fifty day simple moving average of $153.67 and a two-hundred day simple moving average of $151.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $279.97 billion, a P/E ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 earnings per share. On average, analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James raised their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group lifted 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, Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.