Future Financial Wealth Managment LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Future Financial Wealth Managment LLC cut its stake in Chevron Co. (NYSE:CVX) by 45.6% during the fourth quarter, HoldingsChannel reports. The firm owned 236 shares of the oil and gas company’s stock after selling 198 shares during the period. Future Financial Wealth Managment LLC’s holdings in Chevron were worth $34,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Rational Advisors LLC purchased a new stake in Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.4 %

NYSE CVX traded up $2.20 during trading hours on Monday, hitting $155.34. 6,268,794 shares of the company were exchanged, compared to its average volume of 7,356,717. The company has a 50 day moving average of $153.69 and a two-hundred day moving average of $150.95. 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 Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $279.16 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group lifted their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.87.

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.