OneAscent Wealth Management LLC Sells 319 Shares of Chevron Co. (NYSE:CVX)

OneAscent Wealth Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,287 shares of the oil and gas company’s stock after selling 319 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Chevron were worth $911,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Biondo Investment Advisors LLC grew its position in Chevron by 0.4% during the 4th quarter. Biondo Investment Advisors LLC now owns 68,005 shares of the oil and gas company’s stock valued at $9,850,000 after purchasing an additional 280 shares during the last quarter. Allstate Corp lifted its stake in shares of Chevron by 3,103.1% in the fourth quarter. Allstate Corp now owns 51,794 shares of the oil and gas company’s stock worth $7,502,000 after buying an additional 50,177 shares in the last quarter. Maridea Wealth Management LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $318,000. Brown Brothers Harriman & Co. raised its holdings in Chevron by 49.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 81,856 shares of the oil and gas company’s stock worth $11,856,000 after acquiring an additional 26,999 shares during the last quarter. Finally, RiverFront Investment Group LLC lifted its position in Chevron by 34.9% in the 4th quarter. RiverFront Investment Group LLC now owns 88,823 shares of the oil and gas company’s stock valued at $12,865,000 after acquiring an additional 22,979 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.4 %

CVX stock opened at $166.06 on Friday. The business’s 50-day moving average price is $157.10 and its 200-day moving average price is $153.38. The stock has a market cap of $292.37 billion, a P/E ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. 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 posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business earned $3.45 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVX. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.