Chevron Co. (NYSE:CVX) Shares Sold by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,856 shares of the oil and gas company’s stock after selling 181 shares during the period. Richard P Slaughter Associates Inc’s holdings in Chevron were worth $2,152,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Insider Transactions at Chevron

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

Chevron Trading Up 0.9 %

Shares of CVX opened at $158.25 on Thursday. The stock’s fifty day simple moving average is $153.78 and its 200 day simple moving average is $150.95. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $284.39 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 analyst estimates of $48.86 billion. During the same period in the previous year, the company posted $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is currently 71.65%.

Chevron Company 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.