Gradient Capital Advisors LLC Sells 129 Shares of Chevron Co. (NYSE:CVX)

Gradient Capital Advisors LLC lowered its stake in Chevron Co. (NYSE:CVX) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,726 shares of the oil and gas company’s stock after selling 129 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Chevron were worth $1,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in shares of Chevron in the 3rd quarter worth $182,000. Wedge Capital Management L L P NC lifted its holdings in shares of Chevron by 4.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after acquiring an additional 120 shares during the last quarter. CX Institutional grew its position in Chevron by 97.0% in the third quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock worth $6,801,000 after acquiring an additional 22,735 shares in the last quarter. Wesbanco Bank Inc. increased its stake in Chevron by 1.8% during the third quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock worth $33,671,000 after acquiring an additional 4,004 shares during the last quarter. Finally, Iams Wealth Management LLC raised its position in Chevron by 10.5% during the third quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock valued at $1,958,000 after purchasing an additional 1,258 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 1.1 %

NYSE:CVX opened at $157.43 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a 50-day moving average of $152.08 and a 200 day moving average of $150.81. The firm has a market cap of $282.91 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm posted $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. 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 presently 67.08%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.