Hollencrest Capital Management Sells 3,144 Shares of Chevron Co. (NYSE:CVX)

Hollencrest Capital Management lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,460 shares of the oil and gas company's stock after selling 3,144 shares during the period. Hollencrest Capital Management's holdings in Chevron were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter valued at $29,000. Fairway Wealth LLC grew its position 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 purchasing an additional 88 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the third quarter valued at $31,000. 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.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.13.

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Chevron Price Performance

Shares of Chevron stock opened at $153.94 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 simple moving average of $154.55 and a two-hundred day simple moving average of $151.91. The stock has a market capitalization of $271.02 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. 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. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.44%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 sale, the vice president now directly owns 1,057 shares of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

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.

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