Total Clarity Wealth Management Inc. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Total Clarity Wealth Management Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,517 shares of the oil and gas company’s stock after selling 354 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Chevron were worth $365,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth $29,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 4.5 %

NYSE:CVX opened at $149.21 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.35 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 business’s fifty day moving average price is $153.19 and its 200 day moving average price is $151.14.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same quarter last year, the business posted $3.45 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVX shares. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron 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.