Asset Dedication LLC Sells 5,953 Shares of Chevron Co. (NYSE:CVX)

Asset Dedication LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 26.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,933 shares of the oil and gas company’s stock after selling 5,953 shares during the quarter. Asset Dedication LLC’s holdings in Chevron were worth $2,453,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVX. Quarry LP boosted its stake in shares of Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 260 shares in the last quarter. Gibson Wealth Advisors LLC lifted its holdings in Chevron by 0.7% during the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after purchasing an additional 76 shares during the last quarter. RiverFront Investment Group LLC boosted its position in Chevron by 12.6% in the second quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock valued at $10,863,000 after buying an additional 7,759 shares in the last quarter. Farmers National Bank grew its stake in Chevron by 0.5% during the second quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock worth $7,202,000 after buying an additional 208 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Chevron during the second quarter worth approximately $491,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were 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 approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Raymond James raised their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Truist Financial increased their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, UBS Group boosted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Price Performance

NYSE CVX opened at $155.79 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm’s 50 day moving average is $153.67 and its 200-day moving average is $151.13. The company has a market capitalization of $279.97 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. 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 issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm 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 company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 EPS. Equities research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. 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 4.19%. Chevron’s dividend payout ratio is 71.65%.

About Chevron

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.