M3 Advisory Group LLC Sells 260 Shares of Chevron Co. (NYSE:CVX)

M3 Advisory Group LLC lowered its stake in Chevron Co. (NYSE:CVX) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,512 shares of the oil and gas company’s stock after selling 260 shares during the period. M3 Advisory Group LLC’s holdings in Chevron were worth $219,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC acquired a new position in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth $31,000. Finally, Livelsberger Financial Advisory acquired a new position in Chevron during the third quarter worth $47,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE:CVX opened at $157.20 on Tuesday. The company has a market capitalization of $282.50 billion, a PE ratio of 17.27, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $151.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

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 analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during 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 revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.05 EPS. Research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.