Chevron Co. (NYSE:CVX) Stock Holdings Lowered by Financial Advocates Investment Management

Financial Advocates Investment Management cut its position in Chevron Co. (NYSE:CVX) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 33,415 shares of the oil and gas company’s stock after selling 1,339 shares during the quarter. Financial Advocates Investment Management’s holdings in Chevron were worth $4,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Rational Advisors LLC acquired a new position in shares of Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.7 %

Shares of NYSE CVX opened at $151.86 on Friday. The business has a fifty day simple moving average of $152.60 and a 200-day simple moving average of $150.90. The company has a market cap of $272.90 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a 12 month low of $135.37 and a 12 month 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.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business earned $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVX shares. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.