Westmount Partners LLC Has $1.05 Million Stock Position in Chevron Co. (NYSE:CVX)

Westmount Partners LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,242 shares of the oil and gas company’s stock after selling 455 shares during the period. Westmount Partners LLC’s holdings in Chevron were worth $1,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fragasso Financial Advisors Inc raised its holdings in Chevron by 7.7% during the 4th quarter. Fragasso Financial Advisors Inc now owns 1,927 shares of the oil and gas company’s stock worth $279,000 after purchasing an additional 137 shares during the last quarter. Agate Pass Investment Management LLC boosted its position in Chevron by 99.1% during the 4th quarter. Agate Pass Investment Management LLC now owns 7,761 shares of the oil and gas company’s stock worth $1,124,000 after acquiring an additional 3,862 shares during the last quarter. Asset Allocation & Management Company LLC acquired a new position in Chevron during the 4th quarter worth approximately $420,000. Kieckhefer Group LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $58,000. Finally, Capital Investment Advisors LLC raised its stake in shares of Chevron by 0.5% during the 4th quarter. Capital Investment Advisors LLC now owns 299,693 shares of the oil and gas company’s stock worth $43,408,000 after purchasing an additional 1,446 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.3 %

NYSE:CVX traded up $1.96 during midday trading on Monday, hitting $155.10. The stock had a trading volume of 5,835,258 shares, compared to its average volume of 7,273,333. The stock has a 50-day moving average of $153.69 and a 200 day moving average of $150.95. 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 company has a market capitalization of $278.73 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.93 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company 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 firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

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.