BigSur Wealth Management LLC Decreases Stake in Chevron Co. (NYSE:CVX)

BigSur Wealth Management LLC lessened its stake in Chevron Co. (NYSE:CVX - Free Report) by 57.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the oil and gas company's stock after selling 5,300 shares during the period. BigSur Wealth Management LLC's holdings in Chevron were worth $565,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $100,000. Discovery Capital Management LLC CT bought a new stake in Chevron in the second quarter worth $30,705,000. Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after buying an additional 100 shares during the period. Commonwealth Financial Services LLC grew its stake in shares of Chevron by 2.9% during the second quarter. Commonwealth Financial Services LLC now owns 3,359 shares of the oil and gas company's stock valued at $518,000 after buying an additional 96 shares during the last quarter. Finally, Certified Advisory Corp increased its holdings in shares of Chevron by 6.1% in the second quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company's stock worth $2,692,000 after buying an additional 985 shares during the period. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Raymond James increased their price objective on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 2.0 %

CVX traded down $3.31 during trading on Tuesday, reaching $158.16. The stock had a trading volume of 10,127,118 shares, compared to its average volume of 8,066,192. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $284.23 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. 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's 50 day moving average is $154.03 and its two-hundred day moving average is $151.04.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $3.05 EPS. As a group, analysts expect that Chevron Co. will post 10.21 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron's payout ratio is currently 71.65%.

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.