Chevron Co. (NYSE:CVX) Shares Sold by HFR Wealth Management LLC

HFR Wealth Management LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,130 shares of the oil and gas company’s stock after selling 108 shares during the quarter. HFR Wealth Management LLC’s holdings in Chevron were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Pettinga Financial Advisors LLC raised its position in 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 worth $438,000 after buying an additional 272 shares during the last quarter. Van ECK Associates Corp raised its position in Chevron by 45.8% during the 3rd quarter. Van ECK Associates Corp now owns 640,246 shares of the oil and gas company’s stock worth $96,344,000 after buying an additional 201,189 shares during the last quarter. IAG Wealth Partners LLC raised its position in Chevron by 4.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 2,374 shares of the oil and gas company’s stock worth $350,000 after buying an additional 98 shares during the last quarter. Harbour Investment Management LLC raised its position in Chevron by 17.7% during the 3rd quarter. Harbour Investment Management LLC now owns 18,239 shares of the oil and gas company’s stock worth $2,686,000 after buying an additional 2,749 shares during the last quarter. Finally, Forum Financial Management LP raised its position in Chevron by 2.8% during the 3rd quarter. Forum Financial Management LP now owns 32,401 shares of the oil and gas company’s stock worth $4,772,000 after buying an additional 877 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CVX shares. Piper Sandler cut their price objective 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. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $153.05 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $153.35 and a two-hundred day moving average price of $151.58. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $269.46 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the previous year, the company earned $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.