Peterson Wealth Management Sells 465 Shares of Chevron Co. (NYSE:CVX)

Peterson Wealth Management trimmed its stake in Chevron Co. (NYSE:CVX) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,897 shares of the oil and gas company’s stock after selling 465 shares during the period. Peterson Wealth Management’s holdings in Chevron were worth $1,144,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CVX. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the 4th quarter worth $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Navigoe LLC bought a new position in Chevron during the fourth quarter worth about $33,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $165.27.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

NYSE:CVX opened at $136.08 on Thursday. The firm has a market cap of $239.58 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a 50 day moving average price of $150.55 and a 200-day moving average price of $152.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 70.37%.

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.