Chevron Co. (NYSE:CVX) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. reduced its position in shares of Chevron Co. (NYSE:CVX) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,358 shares of the oil and gas company’s stock after selling 10,409 shares during the period. Phoenix Financial Ltd.’s holdings in Chevron were worth $7,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arete Wealth Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at about $2,370,000. Executive Wealth Management LLC acquired a new position in Chevron during the third quarter worth $226,000. Empire Financial Management Company LLC increased its stake in shares of Chevron by 0.5% in the third quarter. Empire Financial Management Company LLC now owns 20,881 shares of the oil and gas company’s stock valued at $3,075,000 after buying an additional 105 shares in the last quarter. Soltis Investment Advisors LLC increased its position in Chevron by 76.7% in the third quarter. Soltis Investment Advisors LLC now owns 70,756 shares of the oil and gas company’s stock worth $10,420,000 after purchasing an additional 30,718 shares during the period. Finally, Second Line Capital LLC boosted its holdings in Chevron by 77.7% during the third quarter. Second Line Capital LLC now owns 30,015 shares of the oil and gas company’s stock worth $4,420,000 after buying an additional 13,126 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 6.5 %

Shares of NYSE CVX opened at $145.89 on Thursday. Chevron Co. has a 52 week low of $133.88 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s fifty day moving average is $155.99 and its 200 day moving average is $153.96. The stock has a market capitalization of $256.86 billion, a P/E ratio of 15.01, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last announced 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 company posted $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s payout ratio is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

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.