Financial Sense Advisors Inc. Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Financial Sense Advisors Inc. lowered its position in Chevron Co. (NYSE:CVX) by 19.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,666 shares of the oil and gas company’s stock after selling 3,362 shares during the quarter. Financial Sense Advisors Inc.’s holdings in Chevron were worth $1,979,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after buying an additional 27,483 shares during the last quarter. Xcel Wealth Management LLC raised its position in shares of Chevron by 3.3% in the 3rd quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 131 shares during the last quarter. Eastern Bank boosted its stake in Chevron by 82.2% in the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after purchasing an additional 115,927 shares in the last quarter. Pegasus Asset Management Inc. grew its position in Chevron by 0.6% during the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock worth $4,246,000 after purchasing an additional 169 shares during the last quarter. Finally, Hofer & Associates. Inc raised its holdings in shares of Chevron by 9.1% in the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock worth $243,000 after buying an additional 138 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Piper Sandler cut their target price 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 cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.14 on Thursday. The company has a market capitalization of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s fifty day moving average price is $151.82 and its 200 day moving average price is $150.85. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.