Midland Wealth Advisors LLC Sells 953 Shares of Chevron Co. (NYSE:CVX)

Midland Wealth Advisors LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,558 shares of the oil and gas company’s stock after selling 953 shares during the period. Midland Wealth Advisors LLC’s holdings in Chevron were worth $2,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Chevron by 46.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 589,223 shares of the oil and gas company’s stock worth $85,343,000 after purchasing an additional 185,528 shares during the last quarter. Fairscale Capital LLC increased its holdings in Chevron by 11.5% in the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 73 shares during the last quarter. Solitude Financial Services boosted its holdings in Chevron by 11.0% during the fourth quarter. Solitude Financial Services now owns 22,378 shares of the oil and gas company’s stock worth $3,241,000 after buying an additional 2,213 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of Chevron by 28.7% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,613 shares of the oil and gas company’s stock worth $813,000 after buying an additional 1,250 shares during the period. Finally, Enterprise Financial Services Corp grew its position in shares of Chevron by 1.2% during the 4th quarter. Enterprise Financial Services Corp now owns 7,571 shares of the oil and gas company’s stock worth $1,097,000 after buying an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 2.3 %

NYSE:CVX opened at $156.48 on Monday. 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 twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $275.51 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50 day moving average price of $154.08 and a two-hundred day moving average price of $151.78.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $3.45 EPS. As a group, analysts expect 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. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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.