Woodstock Corp Sells 2,054 Shares of Chevron Co. (NYSE:CVX)

Woodstock Corp lowered its stake in Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,914 shares of the oil and gas company’s stock after selling 2,054 shares during the quarter. Woodstock Corp’s holdings in Chevron were worth $7,085,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVX. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC raised its holdings 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 during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James increased their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. Four investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Up 1.4 %

Chevron stock opened at $161.54 on Friday. The company has a market capitalization of $290.30 billion, a PE ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm’s fifty day moving average is $153.84 and its 200 day moving average is $151.06. 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 (NYSE:CVX) last released its quarterly earnings data 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. 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 analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 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.