Proquility Private Wealth Partners LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Proquility Private Wealth Partners LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,181 shares of the oil and gas company’s stock after selling 1,578 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in Chevron were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verum Partners LLC lifted its position in Chevron by 15.3% during the fourth quarter. Verum Partners LLC now owns 2,723 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 362 shares during the period. Octavia Wealth Advisors LLC lifted its position in Chevron by 47.2% during the fourth quarter. Octavia Wealth Advisors LLC now owns 8,299 shares of the oil and gas company’s stock valued at $1,202,000 after buying an additional 2,661 shares during the period. Roberts Wealth Advisors LLC lifted its position in Chevron by 20.4% during the fourth quarter. Roberts Wealth Advisors LLC now owns 6,279 shares of the oil and gas company’s stock valued at $994,000 after buying an additional 1,062 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in Chevron by 16.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 506,134 shares of the oil and gas company’s stock valued at $73,308,000 after buying an additional 70,831 shares during the period. Finally, Planned Solutions Inc. lifted its position in Chevron by 3.3% during the fourth quarter. Planned Solutions Inc. now owns 3,303 shares of the oil and gas company’s stock valued at $478,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays raised 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. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

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

Chevron Trading Down 1.2 %

Chevron stock opened at $156.39 on Thursday. The business has a 50-day simple moving average of $154.09 and a two-hundred day simple moving average of $151.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 company has a market cap 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) last released 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. The business had revenue of $50.67 billion for 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 company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The business 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 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.