Phoenix Wealth Advisors Has $247,000 Stake in Chevron Co. (NYSE:CVX)

Phoenix Wealth Advisors reduced its holdings in Chevron Co. (NYSE:CVX) by 20.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,653 shares of the oil and gas company’s stock after selling 423 shares during the quarter. Phoenix Wealth Advisors’ holdings in Chevron were worth $247,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NCM Capital Management LLC raised its stake in Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after buying an additional 65 shares during the period. Sweet Financial Partners LLC raised its stake in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after buying an additional 65 shares during the period. Strategic Investment Advisors MI raised its stake in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the period. Alera Investment Advisors LLC raised its stake in Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after buying an additional 67 shares during the period. Finally, Global Trust Asset Management LLC raised its stake in Chevron by 1.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Truist Financial decreased their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James boosted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $183.55.

Chevron Stock Performance

Chevron stock traded down $1.31 during trading on Wednesday, hitting $156.28. The stock had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.54. 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 stock’s 50 day moving average is $155.11 and its two-hundred day moving average is $151.83. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The business’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

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.