MRA Advisory Group Cuts Holdings in Chevron Co. (NYSE:CVX)

MRA Advisory Group cut its holdings in Chevron Co. (NYSE:CVX) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,673 shares of the oil and gas company’s stock after selling 85 shares during the quarter. MRA Advisory Group’s holdings in Chevron were worth $387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. boosted its position in shares of Chevron by 9.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 1,681 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 139 shares in the last quarter. Global Financial Private Client LLC lifted its stake in shares of Chevron by 0.8% in the fourth quarter. Global Financial Private Client LLC now owns 21,375 shares of the oil and gas company’s stock valued at $3,096,000 after purchasing an additional 160 shares during the period. Signal Advisors Wealth LLC boosted its holdings in Chevron by 41.1% during the fourth quarter. Signal Advisors Wealth LLC now owns 14,677 shares of the oil and gas company’s stock worth $2,126,000 after buying an additional 4,274 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in Chevron during the fourth quarter worth about $519,000. Finally, Code Waechter LLC increased its holdings in Chevron by 4.1% in the fourth quarter. Code Waechter LLC now owns 5,329 shares of the oil and gas company’s stock valued at $772,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

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 completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Stock Up 1.0 %

Shares of NYSE CVX opened at $156.85 on Wednesday. The firm has a market cap of $281.87 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.93 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. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50 day moving average price is $153.78 and its 200 day moving average price is $150.95.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 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.