Chevron Co. (NYSE:CVX) Shares Sold by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,181 shares of the oil and gas company’s stock after selling 1,514 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Chevron were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVX. YHB Investment Advisors Inc. raised its stake in shares of Chevron by 1.5% during the 4th quarter. YHB Investment Advisors Inc. now owns 31,815 shares of the oil and gas company’s stock worth $4,608,000 after buying an additional 470 shares during the period. Northwest Financial Advisors raised its position in Chevron by 8.4% during the fourth quarter. Northwest Financial Advisors now owns 1,729 shares of the oil and gas company’s stock worth $250,000 after acquiring an additional 134 shares during the period. Nilsine Partners LLC lifted its holdings in Chevron by 44.4% during the fourth quarter. Nilsine Partners LLC now owns 18,029 shares of the oil and gas company’s stock valued at $2,611,000 after purchasing an additional 5,546 shares in the last quarter. Baldwin Wealth Partners LLC MA grew its position in shares of Chevron by 5.8% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 71,879 shares of the oil and gas company’s stock valued at $10,411,000 after purchasing an additional 3,962 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in shares of Chevron by 13.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 141,082 shares of the oil and gas company’s stock worth $20,434,000 after purchasing an additional 16,706 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $156.24 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50 day moving average price of $153.74 and a 200 day moving average price of $151.12. The stock has a market capitalization of $280.78 billion, a P/E ratio of 17.17, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last released 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. The business had revenue of $50.67 billion during 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 company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $3.05 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid 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 yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial raised their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

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.