Cambridge Advisors Inc. Lowers Stake in Chevron Co. (NYSE:CVX)

Cambridge Advisors Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,588 shares of the oil and gas company’s stock after selling 425 shares during the period. Cambridge Advisors Inc.’s holdings in Chevron were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings 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 valued at $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $161.54 on Monday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business has a fifty day moving average of $153.93 and a two-hundred day moving average of $151.05.

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

Chevron Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James lifted their price target on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. DZ Bank raised 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. Finally, Truist Financial upped their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.