Chevron Co. (NYSE:CVX) Shares Sold by Element Wealth LLC

Element Wealth LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,371 shares of the oil and gas company’s stock after selling 228 shares during the period. Chevron makes up 0.7% of Element Wealth LLC’s holdings, making the stock its 28th biggest holding. Element Wealth LLC’s holdings in Chevron were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth approximately $33,000. Legacy Financial Group LLC purchased a new stake in shares of Chevron during the 3rd quarter worth approximately $43,000. Finally, Roble Belko & Company Inc lifted its position in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group boosted 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. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial reduced their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Finally, Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.6 %

NYSE CVX traded up $0.93 on Tuesday, hitting $162.85. 5,533,631 shares of the company were exchanged, compared to its average volume of 8,431,420. The company’s 50 day moving average price is $155.63 and its 200-day moving average price is $151.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market capitalization of $302.46 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38.

Chevron (NYSE:CVX) last posted 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. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.09 EPS. Analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.00%. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

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.