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

MGB Wealth Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 12.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,491 shares of the oil and gas company’s stock after selling 501 shares during the period. MGB Wealth Management LLC’s holdings in Chevron were worth $506,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $154.91 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $278.39 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $151.99 and its 200-day moving average price is $150.81.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 last year, the company posted $3.45 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 67.08%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.