McAdam LLC Sells 92 Shares of Chevron Co. (NYSE:CVX)

McAdam LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 3,440 shares of the oil and gas company’s stock after selling 92 shares during the quarter. McAdam LLC’s holdings in Chevron were worth $513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Sweet Financial Partners LLC raised its position 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 purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI raised its position in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in shares of Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 68 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares during the last quarter. Finally, Investment Partners LTD. boosted its holdings in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.3 %

Shares of NYSE CVX opened at $166.34 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market capitalization of $308.94 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a 50-day moving average price of $156.81 and a 200-day moving average price of $151.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.25.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company 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.