High Net Worth Advisory Group LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

High Net Worth Advisory Group LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 16.0% during the fourth quarter, HoldingsChannel reports. The firm owned 11,296 shares of the oil and gas company’s stock after selling 2,155 shares during the period. High Net Worth Advisory Group LLC’s holdings in Chevron were worth $1,636,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tacita Capital Inc increased its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. increased its holdings in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares during the period. S.A. Mason LLC increased its holdings in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the period. Finally, Jag Capital Management LLC increased its holdings in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of Chevron stock opened at $157.20 on Tuesday. The company has a 50-day simple moving average of $153.81 and a two-hundred day simple moving average of $151.11. The stock has a market capitalization of $282.50 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week 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.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.05 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.18 EPS for the current fiscal 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Raymond James raised their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note 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 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.