Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 1,182 Shares of Chevron Co. (NYSE:CVX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,553 shares of the oil and gas company’s stock after selling 1,182 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Chevron were worth $13,209,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the 3rd quarter worth approximately $26,000. Bare Financial Services Inc purchased a new position in shares of Chevron in the 4th quarter worth approximately $27,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Chevron during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $2.05 during mid-day trading on Monday, reaching $162.30. 8,427,958 shares of the company traded hands, compared to its average volume of 8,484,045. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a market cap of $301.43 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock has a fifty day simple moving average of $157.41 and a 200-day simple moving average of $151.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.55 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Insiders have sold a total of 13,247 shares of company stock worth $2,154,164 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. TD Cowen boosted their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $185.35.

About Chevron

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.