Fi3 FINANCIAL ADVISORS LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

Fi3 FINANCIAL ADVISORS LLC reduced its stake in Chevron Co. (NYSE:CVX) by 21.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,624 shares of the oil and gas company’s stock after selling 454 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in Chevron were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CVX. Accurate Wealth Management LLC raised its stake in shares of Chevron by 17.7% in the third quarter. Accurate Wealth Management LLC now owns 21,104 shares of the oil and gas company’s stock worth $3,536,000 after purchasing an additional 3,173 shares during the last quarter. Vicus Capital lifted its stake in Chevron by 9.0% during the 3rd quarter. Vicus Capital now owns 8,034 shares of the oil and gas company’s stock valued at $1,355,000 after acquiring an additional 663 shares during the period. Hexagon Capital Partners LLC lifted its stake in Chevron by 4.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 9,085 shares of the oil and gas company’s stock valued at $1,532,000 after acquiring an additional 402 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Chevron by 2.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 424,020 shares of the oil and gas company’s stock valued at $71,498,000 after acquiring an additional 8,283 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of Chevron by 2.3% in the third quarter. Xponance Inc. now owns 204,137 shares of the oil and gas company’s stock worth $34,422,000 after acquiring an additional 4,607 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. HSBC boosted their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Truist Financial decreased their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $185.35.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX traded down $0.48 during mid-day trading on Friday, reaching $160.25. The company’s stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The stock has a market capitalization of $297.63 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.38 and a beta of 1.11. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a 50-day moving average of $157.26 and a two-hundred day moving average of $151.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

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.