Wellington Shields Capital Management LLC Sells 1,999 Shares of Chevron Co. (NYSE:CVX)

Wellington Shields Capital Management LLC decreased its position in Chevron Co. (NYSE:CVX) by 19.9% during the 4th quarter, Holdings Channel reports. The firm owned 8,055 shares of the oil and gas company’s stock after selling 1,999 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Chevron were worth $1,167,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $30,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of NYSE CVX opened at $153.56 on Friday. 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 cap of $270.35 billion, a PE ratio of 15.80, a P/E/G ratio of 1.46 and a beta of 1.08. The company’s fifty day simple moving average is $154.85 and its 200 day simple moving average is $151.92. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly 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 period in the prior year, the business posted $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.45%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group decreased their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

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

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.