Cypress Wealth Services LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Cypress Wealth Services LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,629 shares of the oil and gas company’s stock after selling 1,072 shares during the quarter. Cypress Wealth Services LLC’s holdings in Chevron were worth $1,395,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVX. Edgestream Partners L.P. bought a new stake in shares of Chevron in the 2nd quarter valued at about $2,398,000. Waterloo Capital L.P. raised its position in shares of Chevron by 4.1% in the 2nd quarter. Waterloo Capital L.P. now owns 7,542 shares of the oil and gas company’s stock worth $1,180,000 after acquiring an additional 300 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Chevron in the 2nd quarter worth $1,335,000. Carolinas Wealth Consulting LLC boosted its position in Chevron by 12.8% during the second quarter. Carolinas Wealth Consulting LLC now owns 4,038 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 459 shares in the last quarter. Finally, Altrius Capital Management Inc boosted its position in Chevron by 5.3% during the second quarter. Altrius Capital Management Inc now owns 28,192 shares of the oil and gas company’s stock valued at $4,410,000 after purchasing an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of CVX stock opened at $159.33 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $286.32 billion, a PE ratio of 17.51, a P/E/G ratio of 2.62 and a beta of 1.12. 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 stock’s 50-day simple moving average is $153.79 and its 200-day simple moving average is $151.00.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued 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 4.09%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

Several analysts have commented on CVX shares. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price 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. Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.87.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’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. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

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.