Yarger Wealth Strategies LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Yarger Wealth Strategies LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,793 shares of the oil and gas company’s stock after selling 81 shares during the period. Yarger Wealth Strategies LLC’s holdings in Chevron were worth $260,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new stake in Chevron during the 2nd quarter worth approximately $1,335,000. Cowa LLC grew its stake in shares of Chevron by 8.5% in the second quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 300 shares in the last quarter. Brighton Jones LLC increased its position in shares of Chevron by 6.8% during the second quarter. Brighton Jones LLC now owns 24,672 shares of the oil and gas company’s stock worth $3,859,000 after acquiring an additional 1,581 shares during the period. Ieq Capital LLC raised its stake in shares of Chevron by 9.0% in the second quarter. Ieq Capital LLC now owns 102,975 shares of the oil and gas company’s stock valued at $16,107,000 after acquiring an additional 8,518 shares in the last quarter. Finally, GM Advisory Group LLC boosted its holdings in Chevron by 0.5% in the second quarter. GM Advisory Group LLC now owns 20,961 shares of the oil and gas company’s stock valued at $3,279,000 after purchasing an additional 104 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Truist Financial increased their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

Shares of CVX opened at $161.54 on Friday. The company’s 50 day simple moving average is $153.84 and its 200-day simple moving average is $151.06. The firm has a market cap of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the business posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s payout ratio is 71.65%.

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.