Stratos Investment Management LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Stratos Investment Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,336 shares of the oil and gas company’s stock after selling 3,001 shares during the period. Stratos Investment Management LLC’s holdings in Chevron were worth $4,394,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVX. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.14 on Wednesday. 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 Co. has a one year low of $135.37 and a one year high of $167.11. The company has a 50-day simple moving average of $152.97 and a 200-day simple moving average of $150.93. The stock has a market capitalization of $275.20 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company earned $3.45 EPS. On average, analysts predict that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday. Finally, Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.33.

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.