Fortitude Advisory Group L.L.C. Sells 260 Shares of Chevron Co. (NYSE:CVX)

Fortitude Advisory Group L.L.C. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,215 shares of the oil and gas company’s stock after selling 260 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Chevron were worth $611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tacita Capital Inc increased its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. boosted its position in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the last quarter. S.A. Mason LLC lifted its position in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC boosted its holdings in shares of Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Raymond James raised their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four 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, Chevron currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Trading Down 0.6 %

CVX stock opened at $156.24 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 $280.78 billion, a P/E ratio of 17.17, a PEG ratio of 1.37 and a beta of 1.12. The company’s 50-day simple moving average is $153.74 and its 200-day simple moving average is $151.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.05 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s 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.