Opal Wealth Advisors LLC Sells 67 Shares of Chevron Co. (NYSE:CVX)

Opal Wealth Advisors LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,844 shares of the oil and gas company’s stock after selling 67 shares during the period. Opal Wealth Advisors LLC’s holdings in Chevron were worth $267,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVX. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.4 %

NYSE CVX opened at $152.54 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $152.21 and a two-hundred day simple moving average of $150.85. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $274.13 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 period last year, the company posted $3.45 EPS. On average, analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.48%. 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 Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

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.