Chevron Co. (NYSE:CVX) Holdings Decreased by Gray Wealth Management Inc.

Gray Wealth Management Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,556 shares of the oil and gas company’s stock after selling 233 shares during the period. Gray Wealth Management Inc.’s holdings in Chevron were worth $805,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVX. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. State Street Corp lifted its holdings in shares of Chevron by 0.6% in the third 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 buying an additional 874,962 shares during the period. LPL Financial LLC boosted its stake in Chevron by 5.7% during the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after buying an additional 171,089 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Chevron during the fourth quarter worth about $594,000. Finally, Unified Investment Management bought a new stake in Chevron in the fourth quarter worth about $729,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 2.3 %

Shares of NYSE:CVX opened at $157.10 on Monday. 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 firm has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The firm has a fifty day moving average of $155.03 and a two-hundred day moving average of $152.06.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 period last year, the business earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Raymond James cut 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, February 3rd. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.