Strategic Advisors LLC Sells 15,577 Shares of Chevron Co. (NYSE:CVX)

Strategic Advisors LLC reduced its stake in Chevron Co. (NYSE:CVXFree Report) by 43.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,634 shares of the oil and gas company’s stock after selling 15,577 shares during the period. Strategic Advisors LLC’s holdings in Chevron were worth $3,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new position in Chevron during the third quarter worth about $35,000. Finally, Worth Asset Management LLC purchased a new position in Chevron during the first quarter worth about $36,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Finally, Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.39.

Read Our Latest Research Report on Chevron

Chevron Stock Performance

Chevron stock opened at $157.74 on Monday. The firm’s 50 day simple moving average is $152.23 and its 200 day simple moving average is $152.57. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.97 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 EPS. As a group, analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

Chevron Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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