Providence First Trust Co Sells 1,215 Shares of Chevron Co. (NYSE:CVX)

Providence First Trust Co trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 20.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,666 shares of the oil and gas company’s stock after selling 1,215 shares during the quarter. Providence First Trust Co’s holdings in Chevron were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pettinga Financial Advisors LLC grew its stake in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 272 shares during the period. Petra Financial Advisors Inc. bought a new stake in Chevron in the 3rd quarter worth approximately $249,000. United Asset Strategies Inc. raised its stake in Chevron by 4.0% during the 3rd quarter. United Asset Strategies Inc. now owns 80,380 shares of the oil and gas company’s stock valued at $11,838,000 after buying an additional 3,105 shares during the last quarter. Cordatus Wealth Management LLC lifted its holdings in shares of Chevron by 0.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 18,884 shares of the oil and gas company’s stock valued at $2,781,000 after buying an additional 90 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of Chevron by 1.0% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 197,947 shares of the oil and gas company’s stock valued at $29,152,000 after buying an additional 2,021 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

NYSE:CVX opened at $158.59 on Friday. The business’s 50-day simple moving average is $153.14 and its two-hundred day simple moving average is $151.44. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $285.00 billion, a PE ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company posted $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 announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Citigroup raised 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 report on Tuesday, November 26th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.