LifeSteps Financial Inc. Sells 491 Shares of Chevron Co. (NYSE:CVX)

LifeSteps Financial Inc. reduced its position in Chevron Co. (NYSE:CVX) by 9.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,838 shares of the oil and gas company’s stock after selling 491 shares during the period. LifeSteps Financial Inc.’s holdings in Chevron were worth $701,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CVX. McAdam LLC lifted its holdings in Chevron by 1.9% during the 3rd quarter. McAdam LLC now owns 3,672 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 68 shares during the last quarter. Greystone Financial Group LLC increased its position in shares of Chevron by 2.5% in the third quarter. Greystone Financial Group LLC now owns 54,676 shares of the oil and gas company’s stock worth $8,052,000 after purchasing an additional 1,348 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in Chevron by 1.5% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 18,973 shares of the oil and gas company’s stock valued at $2,794,000 after purchasing an additional 281 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its position in Chevron by 1.8% during the third quarter. Asset Planning Services Inc. LA ADV now owns 43,765 shares of the oil and gas company’s stock worth $6,445,000 after purchasing an additional 775 shares during the period. Finally, PSI Advisors LLC grew its stake in Chevron by 1.9% during the third quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock worth $1,907,000 after buying an additional 243 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $156.92 on Friday. 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 52-week low of $135.37 and a 52-week high of $167.11. The company has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The company has a fifty day moving average price of $151.97 and a 200-day moving average price of $150.99.

Chevron (NYSE:CVX) last announced its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron 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.