Cravens & Co Advisors LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Cravens & Co Advisors LLC trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,317 shares of the oil and gas company's stock after selling 2,004 shares during the period. Chevron comprises approximately 0.8% of Cravens & Co Advisors LLC's portfolio, making the stock its 26th biggest holding. Cravens & Co Advisors LLC's holdings in Chevron were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

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

Chevron Stock Up 1.7 %

Shares of Chevron stock traded up $2.32 on Friday, reaching $137.68. The stock had a trading volume of 8,423,604 shares, compared to its average volume of 7,924,904. The stock has a market capitalization of $242.39 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. 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 company has a 50 day moving average price of $153.94 and a 200 day moving average price of $153.50.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the previous year, the firm earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $169.50.

Insider Buying and Selling

In other 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

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.