Baron Wealth Management LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Baron Wealth Management LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,235 shares of the oil and gas company’s stock after selling 1,574 shares during the quarter. Baron Wealth Management LLC’s holdings in Chevron were worth $903,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth $47,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Performance

Shares of NYSE CVX opened at $156.19 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $280.68 billion, a P/E ratio of 17.16, a PEG ratio of 1.35 and a beta of 1.12. The stock has a fifty day moving average price of $153.56 and a two-hundred day moving average price of $151.16. 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 (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the business posted $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.