CFS Investment Advisory Services LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

CFS Investment Advisory Services LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,599 shares of the oil and gas company's stock after selling 5,060 shares during the quarter. CFS Investment Advisory Services LLC's holdings in Chevron were worth $1,825,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CVX. Rational Advisors LLC purchased a new position in Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter worth about $31,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron in the third quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Up 1.0 %

Shares of CVX traded up $1.55 during midday trading on Monday, hitting $157.20. 7,138,529 shares of the company's stock traded hands, compared to its average volume of 7,822,061. 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 capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm's fifty day moving average is $153.81 and its 200-day moving average is $151.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same period last year, the business posted $3.05 earnings per share. The firm's revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's dividend payout ratio is presently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVX shares. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and raised their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

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.