Venturi Wealth Management LLC Sells 3,000 Shares of Chevron Co. (NYSE:CVX)

Venturi Wealth Management LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,264 shares of the oil and gas company’s stock after selling 3,000 shares during the period. Venturi Wealth Management LLC’s holdings in Chevron were worth $2,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gemmer Asset Management LLC boosted its stake in shares of Chevron by 3.4% during the 3rd quarter. Gemmer Asset Management LLC now owns 5,442 shares of the oil and gas company’s stock valued at $552,000 after purchasing an additional 180 shares in the last quarter. Capital City Trust Co. FL boosted its stake in Chevron by 1.2% during the third quarter. Capital City Trust Co. FL now owns 37,781 shares of the oil and gas company’s stock worth $3,833,000 after acquiring an additional 461 shares in the last quarter. Seelaus Asset Management LLC boosted its stake in Chevron by 44.8% during the third quarter. Seelaus Asset Management LLC now owns 10,106 shares of the oil and gas company’s stock worth $1,025,000 after acquiring an additional 3,125 shares in the last quarter. Albion Financial Group UT boosted its stake in Chevron by 27.3% during the third quarter. Albion Financial Group UT now owns 17,931 shares of the oil and gas company’s stock worth $1,819,000 after acquiring an additional 3,841 shares in the last quarter. Finally, Greenwich Wealth Management LLC boosted its stake in Chevron by 14.1% during the third quarter. Greenwich Wealth Management LLC now owns 3,493 shares of the oil and gas company’s stock worth $354,000 after acquiring an additional 431 shares in the last quarter. 64.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CVX stock opened at $128.96 on Friday. Chevron Co. has a 12 month low of $84.57 and a 12 month high of $129.20. The stock has a market cap of $248.59 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.87 and a beta of 1.28. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $117.61 and a two-hundred day simple moving average of $107.96.

Chevron (NYSE:CVX) last announced its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.75. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The business had revenue of $44.71 billion during the quarter, compared to analysts’ expectations of $40.89 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 82.9% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 8.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Thursday, November 18th were given a $1.34 dividend. The ex-dividend date of this dividend was Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is currently 103.47%.

In other Chevron news, EVP James William Johnson sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $126.69, for a total value of $5,067,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 52,500 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $113.79, for a total transaction of $5,973,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 475,801 shares of company stock valued at $55,502,677. Company insiders own 0.28% of the company’s stock.

Several research firms recently commented on CVX. Societe Generale began coverage on shares of Chevron in a research note on Friday, October 22nd. They set a “buy” rating and a $130.00 price objective on the stock. Mizuho reissued a “buy” rating on shares of Chevron in a research note on Wednesday, November 3rd. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Tuesday, November 30th. Truist lifted their target price on shares of Chevron from $150.00 to $167.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $145.00 in a report on Wednesday, November 24th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $126.25.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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