Solidarity Wealth LLC Sells 1,281 Shares of Chevron Co. (NYSE:CVX)

Solidarity Wealth LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,736 shares of the oil and gas company’s stock after selling 1,281 shares during the quarter. Solidarity Wealth LLC’s holdings in Chevron were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. International Assets Investment Management LLC boosted its position in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Down 2.0 %

Chevron stock opened at $158.16 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50-day simple moving average is $154.03 and its 200 day simple moving average is $151.04. The stock has a market cap of $284.23 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.46 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.05 EPS. Research analysts predict that Chevron Co. will post 10.21 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.