Laird Norton Wetherby Wealth Management LLC Sells 5,045 Shares of Chevron Co. (NYSE:CVX)

Laird Norton Wetherby Wealth Management LLC cut its stake in Chevron Co. (NYSE:CVX) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,097 shares of the oil and gas company’s stock after selling 5,045 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Chevron were worth $4,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Laraway Financial Advisors Inc boosted its stake in shares of Chevron by 14.4% in the 4th quarter. Laraway Financial Advisors Inc now owns 1,420 shares of the oil and gas company’s stock valued at $206,000 after purchasing an additional 179 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Chevron in the fourth quarter valued at $7,741,000. Investor s Fiduciary Advisor Network LLC bought a new stake in Chevron during the fourth quarter valued at $1,721,000. Janus Henderson Group PLC grew its holdings in Chevron by 27.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company’s stock worth $564,503,000 after acquiring an additional 835,990 shares during the period. Finally, Guardian Wealth Advisors LLC NC raised its position in shares of Chevron by 16.9% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 7,460 shares of the oil and gas company’s stock worth $1,080,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Truist Financial lowered 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. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $161.25.

Chevron Stock Up 1.1%

Shares of NYSE CVX opened at $138.52 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50-day moving average price of $147.91 and a 200-day moving average price of $152.07. The stock has a market capitalization of $243.88 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron’s payout ratio is 78.17%.

Chevron Company 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.