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

Partnership Wealth Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,800 shares of the oil and gas company’s stock after selling 100 shares during the period. Partnership Wealth Management LLC’s holdings in Chevron were worth $840,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVX. First Hawaiian Bank grew its position in Chevron by 0.4% during the fourth quarter. First Hawaiian Bank now owns 25,757 shares of the oil and gas company’s stock valued at $3,731,000 after purchasing an additional 94 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in Chevron by 6.1% during the fourth quarter. Douglas Lane & Associates LLC now owns 480,006 shares of the oil and gas company’s stock worth $69,524,000 after purchasing an additional 27,742 shares during the period. InvesTrust bought a new stake in shares of Chevron in the 4th quarter worth about $5,948,000. Fulton Bank N.A. increased its stake in shares of Chevron by 5.8% in the fourth quarter. Fulton Bank N.A. now owns 52,878 shares of the oil and gas company’s stock valued at $7,659,000 after buying an additional 2,909 shares in the last quarter. Finally, Worth Asset Management LLC raised its position in shares of Chevron by 52.8% during the fourth quarter. Worth Asset Management LLC now owns 2,695 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.2 %

Shares of CVX stock traded up $0.29 during midday trading on Wednesday, reaching $149.88. 7,557,876 shares of the stock were exchanged, compared to its average volume of 6,832,494. The firm has a market cap of $269.35 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $153.63 and its two-hundred day moving average is $151.10. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm earned $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. UBS Group raised their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler reduced 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. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.19.

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.