Ellenbecker Investment Group Sells 784 Shares of Chevron Co. (NYSE:CVX)

Ellenbecker Investment Group trimmed its position in shares of Chevron Co. (NYSE:CVX) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,281 shares of the oil and gas company’s stock after selling 784 shares during the quarter. Ellenbecker Investment Group’s holdings in Chevron were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CVX. Windsor Advisory Group LLC raised its holdings in Chevron by 24.0% in the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares during the period. Renaissance Investment Group LLC grew its position in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 697 shares during the period. Altrius Capital Management Inc lifted its stake in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $254,000. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Chevron by 9.0% during the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after buying an additional 476 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several brokerages have weighed in on CVX. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company lifted their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Up 0.6 %

Chevron stock traded up $0.93 during midday trading on Tuesday, reaching $162.85. The stock had a trading volume of 5,537,181 shares, compared to its average volume of 8,458,651. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The firm has a market cap of $302.46 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a fifty day moving average of $155.63 and a 200 day moving average of $151.66.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the firm earned $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

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.