Chevron Co. (NYSE:CVX) Shares Sold by Castle Wealth Management LLC

Castle Wealth Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 6,254 shares of the oil and gas company’s stock after selling 221 shares during the quarter. Castle Wealth Management LLC’s holdings in Chevron were worth $906,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $154.91 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a 50-day moving average of $151.99 and a 200-day moving average of $150.81. The firm has a market cap of $278.39 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 earnings per share. Analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CVX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Finally, Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.