Chevron Co. (NYSE:CVX) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. trimmed its holdings in Chevron Co. (NYSE:CVX) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,535 shares of the oil and gas company’s stock after selling 10,235 shares during the period. Chevron comprises approximately 1.1% of Bard Financial Services Inc.’s holdings, making the stock its 25th largest holding. Bard Financial Services Inc.’s holdings in Chevron were worth $9,210,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC raised its position in shares of Chevron by 2.7% during the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after acquiring an additional 623 shares in the last quarter. Lockerman Financial Group Inc. raised its position in shares of Chevron by 9.3% during the 2nd quarter. Lockerman Financial Group Inc. now owns 2,046 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 174 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Chevron by 1.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 19,175 shares of the oil and gas company’s stock valued at $2,977,000 after acquiring an additional 182 shares in the last quarter. Arlington Financial Advisors LLC raised its position in shares of Chevron by 0.5% during the 2nd quarter. Arlington Financial Advisors LLC now owns 23,048 shares of the oil and gas company’s stock valued at $3,605,000 after acquiring an additional 125 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Chevron during the 2nd quarter valued at approximately $265,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.13.

Chevron Trading Up 0.4 %

Shares of Chevron stock opened at $157.63 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $283.28 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.10. The business has a fifty day simple moving average of $154.97 and a 200-day simple moving average of $152.42. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.54 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently 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.