Lyell Wealth Management LP Sells 4,356 Shares of Chevron Co. (NYSE:CVX)

Lyell Wealth Management LP cut its holdings in Chevron Co. (NYSE:CVX - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,753 shares of the oil and gas company's stock after selling 4,356 shares during the period. Lyell Wealth Management LP's holdings in Chevron were worth $6,917,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Marietta Wealth Management LLC increased its stake in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC increased its stake in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its stake in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp increased its stake in Chevron by 0.6% during 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 acquiring an additional 874,962 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and upped their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Finally, UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $174.13.

Chevron Stock Down 1.2 %

Shares of Chevron stock traded down $1.87 on Friday, hitting $156.92. The company had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The firm has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day moving average of $151.97 and a 200-day moving average of $150.99.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter last year, the firm posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm 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 boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.36%. Chevron's dividend payout ratio is presently 70.37%.

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.