Carlton Hofferkamp & Jenks Wealth Management LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,360 shares of the oil and gas company’s stock after selling 128 shares during the period. Chevron comprises about 0.9% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Chevron were worth $2,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Pacer Advisors Inc. increased its stake in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. State Street Corp increased its stake in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock valued at $122,741,000 after acquiring an additional 843,756 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. DZ Bank raised shares of 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. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial dropped 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. Four 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Chevron stock opened at $153.05 on Tuesday. The stock has a 50 day moving average of $153.35 and a 200-day moving average of $151.58. 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 $269.46 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.46 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.

Chevron (NYSE:CVX) last posted its 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

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.