Gilman Hill Asset Management LLC Has $313,000 Stock Position in Chevron Co. (NYSE:CVX)

Gilman Hill Asset Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,164 shares of the oil and gas company’s stock after selling 463 shares during the period. Gilman Hill Asset Management LLC’s holdings in Chevron were worth $313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.4 %

Chevron stock opened at $161.54 on Tuesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $290.30 billion, a PE ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The company’s 50-day moving average is $153.93 and its 200-day moving average is $151.01. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James raised their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group upped their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron 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.