Vance Wealth Inc. Sells 1,127 Shares of Chevron Co. (NYSE:CVX)

Vance Wealth Inc. lowered its position in shares of Chevron Co. (NYSE:CVX) by 23.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,756 shares of the oil and gas company’s stock after selling 1,127 shares during the quarter. Vance Wealth Inc.’s holdings in Chevron were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. Morgan Stanley raised its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $348,789,000. Envestnet Asset Management Inc. raised its holdings in shares of Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after purchasing an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Chevron by 28.3% in the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after purchasing an additional 923,119 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $0.61 during trading hours on Friday, reaching $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. The firm’s 50 day moving average price is $156.58 and its 200-day moving average price is $151.73.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.55 EPS. On average, analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVX shares. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $184.75.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

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.