Chevron Co. (NYSE:CVX) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its position in Chevron Co. (NYSE:CVX) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,882 shares of the oil and gas company’s stock after selling 280 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Chevron were worth $1,721,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Marshall Financial Group LLC purchased a new stake in Chevron during the 3rd quarter valued at approximately $202,000. AlphaMark Advisors LLC raised its stake in Chevron by 19.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock valued at $182,000 after acquiring an additional 202 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Chevron by 0.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock valued at $10,422,000 after acquiring an additional 261 shares during the last quarter. Stratos Investment Management LLC raised its stake in Chevron by 15.4% during the 3rd quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock valued at $4,910,000 after acquiring an additional 4,443 shares during the last quarter. Finally, Precedent Wealth Partners LLC raised its stake in Chevron by 9.5% during the 3rd quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock valued at $1,601,000 after acquiring an additional 945 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

CVX opened at $155.32 on Friday. The stock’s 50 day simple moving average is $151.86 and its 200 day simple moving average is $150.86. The stock has a market cap of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. 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.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm posted $3.45 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank raised 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.