Chevron Co. (NYSE:CVX) Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC lowered its stake in Chevron Co. (NYSE:CVX) by 4.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,195 shares of the oil and gas company’s stock after selling 1,442 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Chevron were worth $4,953,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Tacita Capital Inc raised its stake 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 acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. boosted its position in shares of Chevron by 0.8% in 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 purchasing an additional 65 shares during the period. TFB Advisors LLC increased its stake in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its position in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after acquiring an additional 66 shares during the period. Finally, S.A. Mason LLC grew its position in Chevron by 0.7% in 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. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on CVX. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler decreased 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. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 1.1 %

Shares of CVX opened at $158.89 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a fifty day moving average price of $151.91 and a two-hundred day moving average price of $150.91. 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 company has a market cap of $285.53 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.44 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm earned $3.45 earnings per share. Analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared 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. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

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.