Avior Wealth Management LLC Sells 555 Shares of Chevron Co. (NYSE:CVX)

Avior Wealth Management LLC lessened its position in Chevron Co. (NYSE:CVX) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,562 shares of the oil and gas company’s stock after selling 555 shares during the period. Avior Wealth Management LLC’s holdings in Chevron were worth $3,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $31,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 3rd quarter worth about $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVX shares. Raymond James raised their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Price Performance

CVX stock opened at $155.62 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. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The company’s 50-day moving average price is $153.93 and its two-hundred day moving average price is $151.14.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the firm earned $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

About Chevron

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.