Centric Wealth Management Sells 8,293 Shares of Chevron Co. (NYSE:CVX)

Centric Wealth Management reduced its holdings in Chevron Co. (NYSE:CVX) by 60.1% in the 4th quarter, HoldingsChannel reports. The fund owned 5,514 shares of the oil and gas company’s stock after selling 8,293 shares during the period. Centric Wealth Management’s holdings in Chevron were worth $840,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Strategic Investment Advisors MI increased its holdings in shares of Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its holdings 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 valued at $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC increased its stake in Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the last quarter. Investment Partners LTD. increased its stake in Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the last quarter. Finally, ACT Wealth Management LLC increased its stake in Chevron by 1.7% during the fourth quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock worth $641,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock traded down $0.29 during mid-day trading on Wednesday, hitting $162.38. 4,179,491 shares of the company were exchanged, compared to its average volume of 8,415,690. 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 business’s 50 day simple moving average is $157.62 and its two-hundred day simple moving average is $151.45. The company has a market capitalization of $299.92 billion, a P/E ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced 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 during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 earnings per share. Analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,247 shares of company stock valued at $2,154,164. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVX shares. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler lifted 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. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.