Chevron Co. (NYSE:CVX) Stock Holdings Lessened by WealthPLAN Partners LLC

WealthPLAN Partners LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,030 shares of the oil and gas company’s stock after selling 1,126 shares during the period. WealthPLAN Partners LLC’s holdings in Chevron were worth $5,219,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $155.32 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 company has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company’s 50 day moving average price is $151.86 and its two-hundred day moving average price is $150.87. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

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 company earned $3.45 EPS. On average, analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

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.