Summitry LLC Has $462,000 Stake in Chevron Co. (NYSE:CVX)

Summitry LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 17.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,187 shares of the oil and gas company’s stock after selling 685 shares during the period. Summitry LLC’s holdings in Chevron were worth $462,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter valued at $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter worth about $31,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target 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 dropped 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. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 0.6 %

Chevron stock opened at $165.93 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.82. The stock has a market cap of $292.14 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08. The company’s 50-day moving average price is $156.67 and its two-hundred day moving average price is $153.01. 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 (NYSE:CVX) last announced 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 business posted $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current 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 issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Activity

In related 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 value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Company 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.