Frazier Financial Advisors LLC Sells 319 Shares of Chevron Co. (NYSE:CVX)

Frazier Financial Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462 shares of the oil and gas company’s stock after selling 319 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Chevron were worth $66,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at about $5,590,000. Providence Capital Advisors LLC boosted its stake in Chevron by 1.6% in the fourth quarter. Providence Capital Advisors LLC now owns 24,447 shares of the oil and gas company’s stock valued at $3,541,000 after acquiring an additional 375 shares in the last quarter. Weik Capital Management grew its holdings in Chevron by 1.2% in the fourth quarter. Weik Capital Management now owns 13,810 shares of the oil and gas company’s stock worth $2,000,000 after purchasing an additional 160 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth $3,017,750,000. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $1,483,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVX shares. 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, February 3rd. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James cut 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, February 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Shares of Chevron stock opened at $166.73 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50 day simple moving average of $157.01 and a two-hundred day simple moving average of $153.21. The stock has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. As a group, analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.10%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.