FSA Wealth Management LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

FSA Wealth Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 16.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,366 shares of the oil and gas company’s stock after selling 266 shares during the quarter. FSA Wealth Management LLC’s holdings in Chevron were worth $198,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Chevron Stock Down 3.0 %

Shares of NYSE CVX opened at $133.75 on Tuesday. The stock has a market capitalization of $235.48 billion, a PE ratio of 13.76, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $153.12 and a 200-day moving average of $153.33. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.11%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.