Good Life Advisors LLC Trims Stake in Chevron Co. (NYSE:CVX)

Good Life Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,918 shares of the oil and gas company’s stock after selling 221 shares during the period. Good Life Advisors LLC’s holdings in Chevron were worth $3,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Chevron during the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Chevron during the 3rd quarter worth about $35,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $33,000. Finally, Worth Asset Management LLC purchased a new stake in Chevron during the 1st quarter worth $36,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.9 %

NYSE CVX traded up $1.39 on Thursday, hitting $157.74. 8,243,605 shares of the company were exchanged, compared to its average volume of 8,776,853. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $292.97 billion, a PE ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The stock has a fifty day moving average of $151.60 and a 200-day moving average of $152.67. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 EPS. As a group, analysts forecast that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.13%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler decreased their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $180.39.

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.