Avity Investment Management Inc. Sells 3,117 Shares of Chevron Co. (NYSE:CVX)

Avity Investment Management Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,663 shares of the oil and gas company’s stock after selling 3,117 shares during the period. Chevron comprises approximately 2.2% of Avity Investment Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Avity Investment Management Inc.’s holdings in Chevron were worth $27,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVX. Laurel Wealth Advisors LLC raised its holdings in shares of Chevron by 5.1% in the fourth quarter. Laurel Wealth Advisors LLC now owns 25,924 shares of the oil and gas company’s stock valued at $3,755,000 after acquiring an additional 1,259 shares in the last quarter. Meridian Financial Partners LLC increased its position in Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Chevron by 41.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,348 shares of the oil and gas company’s stock valued at $2,368,000 after purchasing an additional 4,764 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Chevron by 20.2% in the 4th quarter. Park Avenue Securities LLC now owns 84,765 shares of the oil and gas company’s stock worth $12,277,000 after purchasing an additional 14,245 shares during the period. Finally, Kathmere Capital Management LLC boosted its stake in shares of Chevron by 24.7% during the fourth quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Finally, Wells Fargo & Company raised 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 research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.87.

Chevron Trading Up 0.9 %

NYSE:CVX opened at $158.25 on Thursday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $284.39 billion, a P/E ratio of 17.39, a PEG ratio of 2.62 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 firm has a fifty day simple moving average of $153.78 and a 200-day simple moving average of $150.95.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.