Centric Wealth Management Sells 8,293 Shares of Chevron Co. (NYSE:CVX)

Centric Wealth Management decreased its stake in shares of Chevron Co. (NYSE:CVX) by 60.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,514 shares of the oil and gas company’s stock after selling 8,293 shares during the quarter. Centric Wealth Management’s holdings in Chevron were worth $840,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in Chevron during the third quarter valued at approximately $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth approximately $33,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Chevron during the third quarter worth $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. UBS Group lifted their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, HSBC boosted their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Stock Down 0.2 %

Shares of NYSE:CVX traded down $0.29 on Wednesday, hitting $162.38. 4,179,491 shares of the company’s stock were exchanged, compared to its average volume of 8,415,690. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market capitalization of $299.92 billion, a PE ratio of 14.94, a P/E/G ratio of 2.37 and a beta of 1.11. The firm’s 50-day moving average is $157.62 and its 200 day moving average is $151.45.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the firm earned $3.55 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,247 shares of company stock worth $2,154,164. 0.20% of the stock is 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.