Viawealth LLC Trims Position in Chevron Co. (NYSE:CVX)

Viawealth LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,101 shares of the oil and gas company’s stock after selling 362 shares during the quarter. Viawealth LLC’s holdings in Chevron were worth $884,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank increased its position in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Prospera Private Wealth LLC increased its holdings in shares of Chevron by 404.8% during the 3rd quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock worth $7,660,000 after buying an additional 41,709 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Chevron by 93.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after buying an additional 60,750 shares during the period. Jennison Associates LLC boosted its holdings in Chevron by 11.9% in the third quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock valued at $66,225,000 after acquiring an additional 47,747 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Chevron by 429.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 245,477 shares of the oil and gas company’s stock valued at $36,151,000 after acquiring an additional 199,148 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 2.0 %

Shares of NYSE:CVX opened at $164.00 on Thursday. The firm has a market cap of $288.73 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a fifty day simple moving average of $155.77 and a 200 day simple moving average of $152.31. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 last year, the business posted $3.45 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.