Chevron Co. (NYSE:CVX) Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors lowered its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 46,424 shares of the oil and gas company's stock after selling 12,225 shares during the quarter. Ibex Wealth Advisors' holdings in Chevron were worth $6,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc increased its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. grew its position in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after buying an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC increased its stake in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after buying an additional 67 shares during the period. S.A. Mason LLC raised its position in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after buying an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC lifted its stake in shares of Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock worth $201,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Raymond James increased their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a "buy" rating and a $168.00 target price for the company. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Finally, Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Four 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, Chevron has a consensus rating of "Moderate Buy" and an average target price of $175.27.

Chevron Price Performance

Shares of Chevron stock traded up $1.42 during trading on Thursday, hitting $157.11. 3,191,345 shares of the company were exchanged, compared to its average volume of 7,376,139. The firm has a 50 day moving average price of $153.56 and a 200 day moving average price of $151.16. The stock has a market capitalization of $282.34 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. Chevron's dividend payout ratio is currently 71.65%.

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.