Chevron Co. (NYSE:CVX) Stake Decreased by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,197 shares of the oil and gas company’s stock after selling 143 shares during the period. Bruce G. Allen Investments LLC’s holdings in Chevron were worth $463,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on 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 owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.52 during trading on Friday, reaching $152.82. The stock had a trading volume of 8,361,553 shares, compared to its average volume of 6,970,593. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a fifty day simple moving average of $153.68 and a two-hundred day simple moving average of $151.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $274.63 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.27%. Chevron’s dividend payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Truist Financial lifted their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. UBS Group lifted their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.60.

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.