Cassaday & Co Wealth Management LLC Decreases Holdings in Chevron Co. (NYSE:CVX)

Cassaday & Co Wealth Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,236 shares of the oil and gas company’s stock after selling 105 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Chevron were worth $2,062,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVX. Life Planning Partners Inc bought a new position in Chevron during the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter valued at about $31,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE:CVX opened at $158.89 on Friday. The firm’s fifty day moving average is $151.91 and its two-hundred day moving average is $150.91. The firm has a market cap of $285.53 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.44 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. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared 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 represents a $6.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. DZ Bank upgraded 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. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

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

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.