Mayfair Advisory Group LLC Sells 383 Shares of Chevron Co. (NYSE:CVX)

Mayfair Advisory Group LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,665 shares of the oil and gas company’s stock after selling 383 shares during the period. Chevron accounts for about 0.7% of Mayfair Advisory Group LLC’s investment portfolio, making the stock its 26th largest position. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CVX. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.85 on Wednesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $281.87 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The stock’s fifty day moving average is $153.78 and its two-hundred day moving average is $150.95. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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, topping 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 firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.87.

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.