Onyx Bridge Wealth Group LLC Sells 553 Shares of Chevron Co. (NYSE:CVX)

Onyx Bridge Wealth Group LLC decreased its position in Chevron Co. (NYSE:CVX) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,524 shares of the oil and gas company’s stock after selling 553 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Chevron were worth $1,669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marietta Wealth Management LLC boosted its holdings in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC raised its position in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares in the last quarter. Finally, State Street Corp raised its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.01 on Thursday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $274.98 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. The company’s fifty day moving average price is $152.79 and its 200 day moving average price is $150.89.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company earned $3.45 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. 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. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio is 67.08%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.