Purus Wealth Management LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Purus Wealth Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,802 shares of the oil and gas company’s stock after selling 149 shares during the quarter. Purus Wealth Management LLC’s holdings in Chevron were worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter worth $31,000. Finally, 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. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.4 %

NYSE CVX opened at $161.54 on Tuesday. The stock has a 50 day moving average price of $153.93 and a 200-day moving average price of $151.01. Chevron Co. has a one year low of $135.37 and a one year 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 company has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the business earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Raymond James lifted their price target on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron 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.