Emerald Advisors LLC Sells 794 Shares of Chevron Co. (NYSE:CVX)

Emerald Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 11.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,890 shares of the oil and gas company’s stock after selling 794 shares during the quarter. Emerald Advisors LLC’s holdings in Chevron were worth $853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Chevron by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after acquiring an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC raised its holdings in shares of Chevron by 3.3% during the 3rd quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 131 shares in the last quarter. Eastern Bank lifted its holdings in shares of Chevron by 82.2% in the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after acquiring an additional 115,927 shares during the last quarter. Pegasus Asset Management Inc. grew its holdings in shares of Chevron by 0.6% during the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock valued at $4,246,000 after purchasing an additional 169 shares during the last quarter. Finally, Hofer & Associates. Inc raised its position in Chevron by 9.1% in the 3rd quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 138 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

CVX stock opened at $157.14 on Thursday. The company has a market capitalization of $282.39 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. 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 business’s 50 day moving average price is $151.82 and its two-hundred day moving average price is $150.85. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $3.45 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm 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 dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.35%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock 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 on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.