Financial Sense Advisors Inc. Trims Stock Position in Chevron Co. (NYSE:CVX)

Financial Sense Advisors Inc. reduced its position in Chevron Co. (NYSE:CVX - Free Report) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,666 shares of the oil and gas company's stock after selling 3,362 shares during the quarter. Financial Sense Advisors Inc.'s holdings in Chevron were worth $1,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth about $29,000. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Down 1.2 %

CVX traded down $1.87 during trading on Friday, hitting $156.92. The stock had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The company has a market capitalization of $282.00 billion, a PE ratio of 16.14, a PEG 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 quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50 day simple moving average of $151.97 and a two-hundred day simple moving average of $151.05.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.36%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron's dividend payout ratio (DPR) is 70.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

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.