InTrack Investment Management Inc Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

InTrack Investment Management Inc lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,629 shares of the oil and gas company's stock after selling 5,580 shares during the period. InTrack Investment Management Inc's holdings in Chevron were worth $1,197,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CVX. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Chevron stock traded up $2.16 during mid-day trading on Friday, reaching $161.54. 9,233,657 shares of the company were exchanged, compared to its average volume of 7,835,055. 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 firm has a market cap of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm's 50-day simple moving average is $153.93 and its two-hundred day simple moving average is $151.05.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 net margin of 8.44% and a return on equity of 13.15%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.05 earnings per share. Equities analysts predict that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 4.04%. Chevron's dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Truist Financial increased their price target on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a report on Monday, January 13th. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

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.