Chevron Co. (NYSE:CVX) Shares Sold by HCR Wealth Advisors

HCR Wealth Advisors reduced its position in Chevron Co. (NYSE:CVX) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,100 shares of the oil and gas company’s stock after selling 1,364 shares during the period. HCR Wealth Advisors’ holdings in Chevron were worth $2,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sawyer & Company Inc lifted its stake in shares of Chevron by 1.0% in the 4th quarter. Sawyer & Company Inc now owns 12,698 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 120 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Chevron by 5.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 8,152 shares of the oil and gas company’s stock valued at $1,181,000 after purchasing an additional 422 shares in the last quarter. Advisors Management Group Inc. ADV lifted its stake in shares of Chevron by 0.4% in the 4th quarter. Advisors Management Group Inc. ADV now owns 21,590 shares of the oil and gas company’s stock valued at $3,127,000 after purchasing an additional 78 shares in the last quarter. ARS Wealth Advisors Group LLC lifted its stake in shares of Chevron by 0.3% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 118,332 shares of the oil and gas company’s stock valued at $17,139,000 after purchasing an additional 375 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC raised its holdings in shares of Chevron by 11.6% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 14,257 shares of the oil and gas company’s stock valued at $2,065,000 after buying an additional 1,480 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $159.33 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 company has a market capitalization of $286.32 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business has a 50 day simple moving average of $153.79 and a 200-day simple moving average of $151.00.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity 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 stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.87.

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.