Summit Trail Advisors LLC Sells 1,953 Shares of Chevron Co. (NYSE:CVX)

Summit Trail Advisors LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 13.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,449 shares of the oil and gas company’s stock after selling 1,953 shares during the period. Summit Trail Advisors LLC’s holdings in Chevron were worth $1,857,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter valued at approximately $26,000. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of 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 worth $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth $33,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Chevron during the third quarter valued at $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $2.05 during trading hours on Monday, reaching $162.30. The company had a trading volume of 8,427,958 shares, compared to its average volume of 8,484,045. The firm has a market cap of $301.43 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business’s 50 day moving average price is $157.26 and its 200-day moving average price is $151.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

A number of analysts recently weighed in on CVX shares. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $185.35.

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.