Chevron Co. (NYSE:CVX) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC cut its position in Chevron Co. (NYSE:CVX) by 65.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,245 shares of the oil and gas company’s stock after selling 30,951 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Chevron were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at about $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc boosted its stake in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 1.8 %

NYSE:CVX traded down $2.95 during trading hours on Tuesday, hitting $163.38. The stock had a trading volume of 3,007,019 shares, compared to its average volume of 8,386,704. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $303.44 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $156.81 and a two-hundred day simple moving average of $151.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the firm earned $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Truist Financial reduced their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

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.