Abacus Planning Group Inc. Sells 573 Shares of Chevron Co. (NYSE:CVX)

Abacus Planning Group Inc. cut its stake in shares of Chevron Co. (NYSE:CVX) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,072 shares of the oil and gas company’s stock after selling 573 shares during the period. Abacus Planning Group Inc.’s holdings in Chevron were worth $735,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. SNS Financial Group LLC bought a new position in Chevron during the 4th quarter valued at $210,000. Private Wealth Partners LLC raised its stake in shares of Chevron by 2.8% during the 4th quarter. Private Wealth Partners LLC now owns 196,308 shares of the oil and gas company’s stock worth $28,433,000 after purchasing an additional 5,269 shares during the period. Sterling Financial Planning Inc. raised its stake in shares of Chevron by 16.3% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,866 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 262 shares during the period. Parthenon LLC raised its stake in shares of Chevron by 1.3% during the 4th quarter. Parthenon LLC now owns 11,701 shares of the oil and gas company’s stock worth $1,695,000 after purchasing an additional 150 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Chevron by 65.2% during the 4th quarter. Private Advisor Group LLC now owns 394,608 shares of the oil and gas company’s stock worth $57,155,000 after purchasing an additional 155,798 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $157.14 on Thursday. The company has a market cap of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. 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 stock has a 50-day moving average price of $151.82 and a 200-day moving average price of $150.85. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

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

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.