Wetzel Investment Advisors Inc. Trims Holdings in Chevron Co. (NYSE:CVX)

Wetzel Investment Advisors Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,934 shares of the oil and gas company’s stock after selling 90 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Chevron were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter worth $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CVX shares. Raymond James boosted their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Truist Financial increased their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler decreased 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. 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 data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Down 0.6 %

NYSE:CVX opened at $156.24 on Wednesday. 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 stock’s 50 day moving average price is $153.74 and its 200 day moving average price is $151.12. The company has a market capitalization of $280.78 billion, a PE ratio of 17.17, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 EPS. On average, research analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

About Chevron

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.