Chevron Co. (NYSE:CVX) Shares Sold by WESCAP Management Group Inc.

WESCAP Management Group Inc. lessened its position in Chevron Co. (NYSE:CVX) by 39.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,374 shares of the oil and gas company’s stock after selling 1,563 shares during the period. WESCAP Management Group Inc.’s holdings in Chevron were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the 3rd quarter worth $26,000. Bare Financial Services Inc purchased a new position in Chevron during the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Shares of Chevron stock traded down $0.48 during trading on Friday, reaching $160.25. The company had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The firm’s fifty day moving average is $157.26 and its 200-day moving average is $151.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.55 EPS. On average, analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $185.35.

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.