Kingswood Wealth Advisors LLC Has $3.58 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Kingswood Wealth Advisors LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 36.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,739 shares of the oil and gas company’s stock after selling 14,398 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Chevron were worth $3,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tacita Capital Inc raised its stake in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. boosted its stake in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC grew its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC increased its stake in Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Buying and Selling 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $157.20 on Tuesday. The firm has a market capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. 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 $153.81 and a 200 day moving average price of $151.11. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.