Chevron Co. (NYSE:CVX) Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 19,834 shares of the oil and gas company’s stock after selling 193 shares during the quarter. Chevron accounts for 1.8% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 22nd biggest holding. Cox Capital Mgt LLC’s holdings in Chevron were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the third quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Insider Activity 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 stock was 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. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9 %

Shares of Chevron stock opened at $158.25 on Thursday. The business has a 50 day moving average price of $153.78 and a 200 day moving average price of $150.95. The company has a market capitalization of $284.39 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.62 and a beta of 1.12. 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 Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the business earned $3.05 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.