WealthBridge Capital Management LLC Sells 245 Shares of Chevron Co. (NYSE:CVX)

WealthBridge Capital Management LLC reduced its position in Chevron Co. (NYSE:CVX) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,638 shares of the oil and gas company’s stock after selling 245 shares during the quarter. WealthBridge Capital Management LLC’s holdings in Chevron were worth $237,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Chevron by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after acquiring an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in Chevron by 3.3% during the third quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 131 shares in the last quarter. Eastern Bank boosted its stake in Chevron by 82.2% during the third quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after acquiring an additional 115,927 shares in the last quarter. Pegasus Asset Management Inc. boosted its stake in Chevron by 0.6% during the third quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock worth $4,246,000 after acquiring an additional 169 shares in the last quarter. Finally, Hofer & Associates. Inc boosted its stake in Chevron by 9.1% during the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 138 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $157.14 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a 50-day moving average of $151.82 and a 200-day moving average of $150.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $282.39 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

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.