Chevron Co. (NYSE:CVX) Shares Sold by Safeguard Financial LLC

Safeguard Financial LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 40.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,635 shares of the oil and gas company’s stock after selling 1,091 shares during the quarter. Safeguard Financial LLC’s holdings in Chevron were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $156.85 on Wednesday. The firm has a market capitalization of $281.87 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.93 and a beta of 1.12. The firm’s fifty day simple moving average is $153.78 and its 200-day simple moving average is $150.95. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. Equities analysts forecast that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Scotiabank reduced their price target 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. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, UBS Group boosted their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.87.

About Chevron

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.