Lmcg Investments LLC Sells 3,982 Shares of Chevron Co. (NYSE:CVX)

Lmcg Investments LLC cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,684 shares of the oil and gas company's stock after selling 3,982 shares during the period. Chevron accounts for approximately 1.2% of Lmcg Investments LLC's portfolio, making the stock its 16th largest holding. Lmcg Investments LLC's holdings in Chevron were worth $19,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter worth about $31,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Raymond James boosted their price objective on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Four equities 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Chevron Stock Down 1.2 %

Shares of Chevron stock traded down $1.85 on Wednesday, reaching $156.39. The company's stock had a trading volume of 7,230,699 shares, compared to its average volume of 8,002,224. 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 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $281.05 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. The firm's fifty day simple moving average is $154.09 and its two-hundred day simple moving average is $151.07.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron's payout ratio is presently 71.65%.

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.