Narwhal Capital Management Sells 633 Shares of Chevron Co. (NYSE:CVX)

Narwhal Capital Management cut its holdings in Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,364 shares of the oil and gas company’s stock after selling 633 shares during the quarter. Narwhal Capital Management’s holdings in Chevron were worth $4,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CVX. International Assets Investment Management LLC grew its stake in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after purchasing an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, State Street Corp lifted its holdings in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVX shares. Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Four investment 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 an average target price of $175.27.

Chevron Trading Up 1.0 %

NYSE:CVX opened at $157.20 on Tuesday. 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 has a market capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average price of $153.81 and a 200-day moving average price of $151.11.

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

Chevron Announces Dividend

The company also recently announced 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 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

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.