GM Advisory Group LLC Sells 1,617 Shares of Chevron Co. (NYSE:CVX)

GM Advisory Group LLC lowered its position in Chevron Co. (NYSE:CVX) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,344 shares of the oil and gas company’s stock after selling 1,617 shares during the period. GM Advisory Group LLC’s holdings in Chevron were worth $2,849,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter valued at approximately $30,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $161.58 on Friday. The firm has a market capitalization of $290.37 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50 day simple moving average of $151.14 and a 200-day simple moving average of $152.69. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.05 earnings per share. Equities analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.