Phoenix Wealth Advisors Cuts Stake in Chevron Co. (NYSE:CVX)

Phoenix Wealth Advisors reduced its position in Chevron Co. (NYSE:CVX) by 20.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,653 shares of the oil and gas company’s stock after selling 423 shares during the period. Phoenix Wealth Advisors’ holdings in Chevron were worth $247,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TRUE Private Wealth Advisors boosted its holdings in Chevron by 11.2% in the fourth quarter. TRUE Private Wealth Advisors now owns 39,695 shares of the oil and gas company’s stock valued at $5,921,000 after purchasing an additional 4,007 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in shares of Chevron by 0.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 29,505 shares of the oil and gas company’s stock worth $4,401,000 after acquiring an additional 90 shares during the period. Sloy Dahl & Holst LLC raised its position in shares of Chevron by 11.3% in the fourth quarter. Sloy Dahl & Holst LLC now owns 3,952 shares of the oil and gas company’s stock worth $589,000 after acquiring an additional 400 shares during the period. Tyche Wealth Partners LLC acquired a new position in shares of Chevron in the fourth quarter worth about $5,815,000. Finally, Arbor Trust Wealth Advisors LLC raised its position in shares of Chevron by 4.6% in the fourth quarter. Arbor Trust Wealth Advisors LLC now owns 15,102 shares of the oil and gas company’s stock worth $2,253,000 after acquiring an additional 665 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock traded down $1.31 during midday trading on Wednesday, hitting $156.28. 5,541,895 shares of the company’s stock were exchanged, compared to its average volume of 7,275,755. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The firm’s 50 day simple moving average is $155.11 and its 200 day simple moving average is $151.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the firm posted $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Piper Sandler decreased their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $183.55.

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.