Main Street Financial Solutions LLC Has $1.26 Million Stake in Chevron Co. (NYSE:CVX)

Main Street Financial Solutions LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,705 shares of the oil and gas company's stock after selling 5,798 shares during the period. Main Street Financial Solutions LLC's holdings in Chevron were worth $1,261,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity

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

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.32 during midday trading on Friday, hitting $137.68. The company's stock had a trading volume of 8,423,604 shares, compared to its average volume of 7,924,904. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. The stock's 50 day simple moving average is $153.54 and its 200 day simple moving average is $153.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.97%. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVX shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $169.50.

Chevron Company 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.