Chevron Co. (NYSE:CVX) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 77.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,779 shares of the oil and gas company’s stock after selling 92,257 shares during the period. Wealthfront Advisers LLC’s holdings in Chevron were worth $3,879,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pettinga Financial Advisors LLC raised its holdings in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 272 shares during the period. United Bank grew its position in Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Chevron during the third quarter valued at approximately $380,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Chevron during the third quarter worth $492,000. Finally, Cable Hill Partners LLC boosted its stake in shares of Chevron by 12.7% in the third quarter. Cable Hill Partners LLC now owns 7,073 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.6 %

NYSE CVX opened at $153.56 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a 50-day simple moving average of $154.85 and a 200-day simple moving average of $151.92. The firm has a market capitalization of $270.35 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.