Chevron Co. (NYSE:CVX) Shares Sold by Net Worth Advisory Group

Net Worth Advisory Group reduced its position in Chevron Co. (NYSE:CVX) by 19.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,583 shares of the oil and gas company’s stock after selling 1,126 shares during the quarter. Net Worth Advisory Group’s holdings in Chevron were worth $664,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CVX. Pettinga Financial Advisors LLC grew its stake in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the period. United Bank grew its stake in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the period. Sheets Smith Wealth Management grew its stake in shares of Chevron by 5.2% during the 3rd quarter. Sheets Smith Wealth Management now owns 4,641 shares of the oil and gas company’s stock worth $683,000 after purchasing an additional 229 shares during the period. Tyler Stone Wealth Management grew its stake in shares of Chevron by 135.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 4,171 shares of the oil and gas company’s stock worth $614,000 after purchasing an additional 2,397 shares during the period. Finally, Ashton Thomas Securities LLC grew its stake in shares of Chevron by 33.2% during the 3rd quarter. Ashton Thomas Securities LLC now owns 3,001 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 748 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $157.67 on Tuesday. The firm has a market cap of $277.59 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $154.37 and its two-hundred day moving average is $151.86. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Piper Sandler lowered their price target 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. 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, February 4th. UBS Group lowered their price objective 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. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.