Stone Summit Wealth LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Stone Summit Wealth LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,605 shares of the oil and gas company’s stock after selling 83 shares during the period. Stone Summit Wealth LLC’s holdings in Chevron were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Wealthstar Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth $504,000. Stiles Financial Services Inc lifted its holdings in Chevron by 3.6% during the fourth quarter. Stiles Financial Services Inc now owns 4,501 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 155 shares during the last quarter. LJI Wealth Management LLC boosted its position in Chevron by 3.6% during the fourth quarter. LJI Wealth Management LLC now owns 4,450 shares of the oil and gas company’s stock worth $645,000 after purchasing an additional 155 shares during the period. Tevis Investment Management increased its stake in shares of Chevron by 1.1% in the fourth quarter. Tevis Investment Management now owns 11,775 shares of the oil and gas company’s stock worth $1,705,000 after purchasing an additional 128 shares in the last quarter. Finally, Washburn Capital Management Inc. raised its position in shares of Chevron by 11.5% in the fourth quarter. Washburn Capital Management Inc. now owns 2,898 shares of the oil and gas company’s stock valued at $420,000 after purchasing an additional 298 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $152.54 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s fifty day moving average price is $152.21 and its 200-day moving average price is $150.85. The stock has a market cap of $274.13 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business posted $3.45 EPS. On average, equities research analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.48%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s 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 represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CVX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.