HighMark Wealth Management LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

HighMark Wealth Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 741 shares of the oil and gas company’s stock after selling 193 shares during the period. HighMark Wealth Management LLC’s holdings in Chevron were worth $111,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Bell Bank lifted its position in shares of Chevron by 4.8% in the fourth quarter. Bell Bank now owns 5,239 shares of the oil and gas company’s stock valued at $781,000 after acquiring an additional 239 shares in the last quarter. Hofer & Associates. Inc raised its stake in Chevron by 15.3% in the 4th quarter. Hofer & Associates. Inc now owns 1,470 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 195 shares during the last quarter. Builder Investment Group Inc. ADV lifted its holdings in Chevron by 1.3% in the 4th quarter. Builder Investment Group Inc. ADV now owns 23,912 shares of the oil and gas company’s stock valued at $3,567,000 after purchasing an additional 312 shares in the last quarter. Fusion Capital LLC lifted its holdings in Chevron by 90.3% in the 4th quarter. Fusion Capital LLC now owns 5,306 shares of the oil and gas company’s stock valued at $791,000 after purchasing an additional 2,518 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in Chevron by 185.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 56,563 shares of the oil and gas company’s stock worth $8,437,000 after purchasing an additional 36,779 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $159.82 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $296.83 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The business’s fifty day simple moving average is $152.56 and its 200-day simple moving average is $152.41. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. Equities analysts forecast that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. Chevron’s payout ratio is presently 57.39%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Piper Sandler cut their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $180.39.

Check Out Our Latest Analysis on CVX

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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