Chevron Co. (NYSE:CVX) Shares Sold by TKG Advisors LLC

TKG Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,060 shares of the oil and gas company’s stock after selling 519 shares during the quarter. Chevron accounts for approximately 1.2% of TKG Advisors LLC’s investment portfolio, making the stock its 27th largest position. TKG Advisors LLC’s holdings in Chevron were worth $2,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Werba Rubin Papier Wealth Management raised its position in Chevron by 3.6% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 4,290 shares of the oil and gas company’s stock valued at $621,000 after buying an additional 149 shares during the period. Laidlaw Wealth Management LLC increased its position in Chevron by 7.9% during the fourth quarter. Laidlaw Wealth Management LLC now owns 3,937 shares of the oil and gas company’s stock worth $570,000 after buying an additional 289 shares during the last quarter. Plan Group Financial LLC lifted its holdings in Chevron by 8.8% in the 4th quarter. Plan Group Financial LLC now owns 9,280 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 750 shares during the last quarter. Allied Investment Advisors LLC grew its holdings in Chevron by 2.1% during the fourth quarter. Allied Investment Advisors LLC now owns 76,107 shares of the oil and gas company’s stock valued at $11,023,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Northcape Wealth Management LLC raised its holdings in Chevron by 30.5% in the 4th quarter. Northcape Wealth Management LLC now owns 3,031 shares of the oil and gas company’s stock worth $439,000 after acquiring an additional 709 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.23 on Wednesday. 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 stock has a market cap of $280.76 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock’s fifty day simple moving average is $151.80 and its two-hundred day simple moving average is $150.81.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm earned $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James decreased 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.