Wealth Advisory Solutions LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Wealth Advisory Solutions LLC cut its position in Chevron Co. (NYSE:CVX) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,034 shares of the oil and gas company’s stock after selling 13,798 shares during the quarter. Chevron makes up approximately 1.3% of Wealth Advisory Solutions LLC’s investment portfolio, making the stock its 20th largest holding. Wealth Advisory Solutions LLC’s holdings in Chevron were worth $4,640,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVX. Pettinga Financial Advisors LLC grew its stake 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. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth about $29,000. Catalyst Capital Advisors LLC acquired a new position in shares of Chevron during the third quarter valued at about $2,455,000. Solitude Financial Services raised its position in shares of Chevron by 42.0% in the 3rd quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company’s stock valued at $2,970,000 after purchasing an additional 5,968 shares during the last quarter. Finally, Moloney Securities Asset Management LLC boosted its stake in Chevron by 2.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company’s stock worth $3,326,000 after purchasing an additional 631 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

NYSE:CVX opened at $151.99 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50 day moving average price of $153.51 and a 200-day moving average price of $151.61. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market cap of $267.59 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm posted $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.