Chevron Co. (NYSE:CVX) Shares Sold by Diligent Investors LLC

Diligent Investors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,901 shares of the oil and gas company’s stock after selling 593 shares during the period. Chevron accounts for about 0.8% of Diligent Investors LLC’s holdings, making the stock its 21st biggest holding. Diligent Investors LLC’s holdings in Chevron were worth $3,607,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 168 shares during the last quarter. Worth Asset Management LLC lifted its stake in Chevron by 52.8% during the fourth quarter. Worth Asset Management LLC now owns 2,695 shares of the oil and gas company’s stock worth $390,000 after purchasing an additional 931 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Chevron by 5.8% during the fourth quarter. Fulton Bank N.A. now owns 52,878 shares of the oil and gas company’s stock worth $7,659,000 after buying an additional 2,909 shares during the period. InvesTrust acquired a new stake in shares of Chevron in the fourth quarter valued at $5,948,000. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Chevron by 6.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 480,006 shares of the oil and gas company’s stock valued at $69,524,000 after buying an additional 27,742 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.3 %

NYSE CVX opened at $135.87 on Wednesday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $239.22 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. 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 firm’s fifty day moving average price is $148.95 and its 200 day moving average price is $152.34.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $161.25.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron 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.