Chevron Co. (NYSE:CVX) Shares Sold by Jmac Enterprises LLC

Jmac Enterprises LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,987 shares of the oil and gas company’s stock after selling 2,645 shares during the quarter. Jmac Enterprises LLC’s holdings in Chevron were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CVX. Tacita Capital Inc increased its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares in the last quarter. Wallace Capital Management Inc. grew its stake in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 65 shares in the last quarter. TFB Advisors LLC increased its stake in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares in the last quarter. Finally, S.A. Mason LLC lifted its holdings in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVX shares. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Piper Sandler lowered their price target 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, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 1.1 %

Shares of NYSE CVX opened at $157.43 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $282.91 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50 day simple moving average is $152.08 and its 200 day simple moving average is $150.81.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm earned $3.45 EPS. On average, analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

About Chevron

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.