Chevron Co. (NYSE:CVX) Shares Sold by Gray Wealth Management Inc.

Gray Wealth Management Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 10.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,499 shares of the oil and gas company’s stock after selling 631 shares during the quarter. Gray Wealth Management Inc.’s holdings in Chevron were worth $820,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in 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 buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $36,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $43,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. UBS Group lifted their price objective 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, TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 1.6 %

CVX stock traded up $2.57 during midday trading on Friday, reaching $160.14. The company had a trading volume of 1,409,472 shares, compared to its average volume of 8,431,626. 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 1 year low of $139.62 and a 1 year high of $172.38. The company has a 50 day moving average of $155.26 and a two-hundred day moving average of $151.90. The company has a market capitalization of $297.42 billion, a P/E ratio of 13.86, a PEG ratio of 2.36 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 for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the business earned $4.09 EPS. The business’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders 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 4.07%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 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.