LaFleur & Godfrey LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

LaFleur & Godfrey LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,900 shares of the oil and gas company's stock after selling 3,693 shares during the period. Chevron makes up approximately 1.3% of LaFleur & Godfrey LLC's investment portfolio, making the stock its 26th biggest holding. LaFleur & Godfrey LLC's holdings in Chevron were worth $9,690,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVX. Marietta Wealth Management LLC raised its stake in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock valued at $5,962,000 after acquiring an additional 3,965 shares in the last quarter. Leo Wealth LLC lifted its holdings in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock worth $1,214,000 after buying an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC increased its stake in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after buying an additional 3,933 shares during the period. Finally, State Street Corp raised its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX traded down $1.85 during trading hours on Wednesday, reaching $156.39. 7,218,959 shares of the company traded hands, compared to its average volume of 8,001,297. 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 business has a fifty day moving average price of $154.09 and a 200-day moving average price of $151.07. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $281.05 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12.

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

Chevron Dividend Announcement

The firm also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron's payout ratio is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CVX. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and raised their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

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.