Chevron Co. (NYSE:CVX) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,207 shares of the oil and gas company’s stock after selling 104 shares during the quarter. Chevron comprises 0.6% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. SeaCrest Wealth Management LLC’s holdings in Chevron were worth $5,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9 %

NYSE CVX opened at $158.25 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $284.39 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The firm has a 50 day moving average of $153.78 and a two-hundred day moving average of $150.95.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

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 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Scotiabank cut their target price 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. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. 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 research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.