Chevron Co. (NYSE:CVX) Shares Sold by AM Investment Strategies LLC

AM Investment Strategies LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 17.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,284 shares of the oil and gas company’s stock after selling 1,149 shares during the period. AM Investment Strategies LLC’s holdings in Chevron were worth $765,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, Livelsberger Financial Advisory acquired a new position in Chevron in the 3rd quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Raymond James upped their price target on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.3 %

Shares of Chevron stock opened at $155.62 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market capitalization of $279.66 billion, a PE ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The firm’s 50-day moving average price is $153.81 and its 200 day moving average price is $151.15.

Chevron (NYSE:CVX) last released its earnings results 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 the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend 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.