Wealthspire Advisors LLC Sells 3,431 Shares of Chevron Co. (NYSE:CVX)

Wealthspire Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,125 shares of the oil and gas company’s stock after selling 3,431 shares during the quarter. Wealthspire Advisors LLC’s holdings in Chevron were worth $9,143,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CVX. Values First Advisors Inc. purchased a new position in Chevron in the third quarter worth about $163,000. West Michigan Advisors LLC grew its position in Chevron by 7.6% in the third quarter. West Michigan Advisors LLC now owns 8,954 shares of the oil and gas company’s stock worth $1,319,000 after acquiring an additional 635 shares in the last quarter. Cross Staff Investments Inc grew its position in Chevron by 1.3% in the third quarter. Cross Staff Investments Inc now owns 5,207 shares of the oil and gas company’s stock worth $767,000 after acquiring an additional 68 shares in the last quarter. Element Wealth LLC grew its position in Chevron by 2.8% in the third quarter. Element Wealth LLC now owns 7,624 shares of the oil and gas company’s stock worth $1,123,000 after acquiring an additional 210 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its position in Chevron by 7.1% in the third quarter. Silver Oak Securities Incorporated now owns 7,843 shares of the oil and gas company’s stock worth $1,141,000 after acquiring an additional 523 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVX shares. Citigroup upgraded 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 report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.92 on Friday. The company has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 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. The firm has a 50 day moving average of $151.97 and a 200 day moving average of $151.05.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $3.45 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed 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. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron’s payout ratio is 70.37%.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by 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.