Chevron Co. (NYSE:CVX) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,658 shares of the oil and gas company’s stock after selling 457 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Chevron were worth $2,992,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rational Advisors LLC acquired a new position in Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the fourth quarter worth $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CVX shares. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

Shares of Chevron stock opened at $151.86 on Friday. The firm has a market cap of $272.90 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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’s fifty day simple moving average is $152.60 and its two-hundred day simple moving average is $150.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business earned $3.45 earnings per share. As a group, equities analysts expect that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.50%. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling

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

Chevron Company 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.