Sfmg LLC Sells 442 Shares of Chevron Co. (NYSE:CVX)

Sfmg LLC cut its position in Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,367 shares of the oil and gas company’s stock after selling 442 shares during the quarter. Sfmg LLC’s holdings in Chevron were worth $2,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $33,000. Worth Asset Management LLC bought a new position in Chevron during the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC purchased a new position in Chevron during the third quarter worth about $43,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler decreased their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Chevron Stock Down 0.8 %

CVX stock traded down $1.31 on Wednesday, reaching $156.28. 5,541,895 shares of the company traded hands, compared to its average volume of 7,275,755. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a fifty day simple moving average of $155.11 and a 200-day simple moving average of $151.83. Chevron Co. has a one year low of $139.62 and a one year high of $172.54. The company has a market cap of $290.25 billion, a P/E 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 quarterly 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 during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 EPS. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.