Kades & Cheifetz LLC Has $245,000 Stock Position in Chevron Co. (NYSE:CVX)

Kades & Cheifetz LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,689 shares of the oil and gas company’s stock after selling 2,166 shares during the quarter. Kades & Cheifetz LLC’s holdings in Chevron were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVX. Lyell Wealth Management LP lifted its position in shares of Chevron by 9.5% during the second quarter. Lyell Wealth Management LP now owns 57,388 shares of the oil and gas company’s stock valued at $8,977,000 after purchasing an additional 4,994 shares in the last quarter. Williams Financial LLC bought a new position in shares of Chevron during the second quarter valued at about $3,533,000. Vista Capital Partners Inc. raised its position in Chevron by 4.1% in the second quarter. Vista Capital Partners Inc. now owns 2,694 shares of the oil and gas company’s stock worth $421,000 after acquiring an additional 106 shares during the period. Diversify Wealth Management LLC bought a new stake in Chevron in the second quarter worth about $2,593,000. Finally, Wilkins Investment Counsel Inc. raised its position in Chevron by 11.5% in the second quarter. Wilkins Investment Counsel Inc. now owns 16,515 shares of the oil and gas company’s stock worth $2,583,000 after acquiring an additional 1,700 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group lifted their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. 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 report on Thursday, December 19th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Trading Up 1.4 %

NYSE:CVX traded up $2.10 during midday trading on Monday, reaching $155.24. 6,413,193 shares of the stock traded hands, compared to its average volume of 7,356,717. The company has a fifty day moving average of $153.69 and a 200 day moving average of $150.95. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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 stock has a market capitalization of $278.98 billion, a P/E ratio of 17.06, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the business posted $3.05 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

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

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.