Aspire Capital Advisors LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Aspire Capital Advisors LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,079 shares of the oil and gas company’s stock after selling 145 shares during the period. Aspire Capital Advisors LLC’s holdings in Chevron were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Perigon Wealth Management LLC grew its holdings in shares of Chevron by 8.3% during the fourth quarter. Perigon Wealth Management LLC now owns 85,687 shares of the oil and gas company’s stock worth $13,657,000 after purchasing an additional 6,591 shares in the last quarter. MBE Wealth Management LLC purchased a new stake in Chevron in the fourth quarter worth approximately $235,000. VCI Wealth Management LLC boosted its stake in Chevron by 2.9% in the fourth quarter. VCI Wealth Management LLC now owns 11,672 shares of the oil and gas company’s stock worth $1,691,000 after buying an additional 330 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in Chevron by 2.5% in the fourth quarter. Curbstone Financial Management Corp now owns 13,944 shares of the oil and gas company’s stock worth $2,020,000 after buying an additional 340 shares in the last quarter. Finally, YHB Investment Advisors Inc. boosted its stake in Chevron by 1.5% in the fourth quarter. YHB Investment Advisors Inc. now owns 31,815 shares of the oil and gas company’s stock worth $4,608,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $155.79 on Thursday. The company has a 50-day moving average price of $153.67 and a 200-day moving average price of $151.13. The stock has a market cap of $279.97 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the business posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Truist Financial upped their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.