Realta Investment Advisors Sells 255 Shares of Chevron Co. (NYSE:CVX)

Realta Investment Advisors lessened its holdings in Chevron Co. (NYSE:CVX) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 9,517 shares of the oil and gas company’s stock after selling 255 shares during the period. Realta Investment Advisors’ holdings in Chevron were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hoxton Planning & Management LLC increased its stake in shares of Chevron by 42.6% during the third quarter. Hoxton Planning & Management LLC now owns 2,136 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 638 shares during the period. Future Financial Wealth Managment LLC bought a new position in Chevron during the 3rd quarter worth $64,000. CWM LLC lifted its holdings in shares of Chevron by 4.2% during the third quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock worth $37,805,000 after buying an additional 10,337 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in shares of Chevron by 7.4% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 162,730 shares of the oil and gas company’s stock valued at $23,965,000 after acquiring an additional 11,149 shares during the period. Finally, Patten Group Inc. grew its stake in shares of Chevron by 9.0% in the third quarter. Patten Group Inc. now owns 24,245 shares of the oil and gas company’s stock valued at $3,571,000 after acquiring an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $151.86 on Friday. The company’s 50 day moving average price is $152.40 and its two-hundred day moving average price is $150.91. The firm has a market capitalization of $272.90 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week 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.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 last year, the company posted $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is 67.08%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler reduced 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. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.