Chevron Co. (NYSE:CVX) Shares Sold by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,379 shares of the oil and gas company’s stock after selling 608 shares during the quarter. Chevron accounts for about 1.6% of Live Oak Private Wealth LLC’s investment portfolio, making the stock its 17th largest holding. Live Oak Private Wealth LLC’s holdings in Chevron were worth $9,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Marietta Wealth Management LLC grew its position in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC boosted its stake in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC raised its position in shares of Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares during the period. Finally, State Street Corp lifted its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.7 %

Shares of Chevron stock opened at $151.86 on Friday. The business has a fifty day simple moving average of $152.60 and a 200-day simple moving average of $150.90. The firm has a market cap of $272.90 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 earnings per share. On average, equities analysts forecast that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.