Chevron Co. (NYSE:CVX) Stock Holdings Cut by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS trimmed its holdings in Chevron Co. (NYSE:CVX) by 7.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,422 shares of the oil and gas company’s stock after selling 467 shares during the period. Legacy Wealth Management LLC MS’s holdings in Chevron were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Lantz Financial LLC grew its stake in Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 623 shares in the last quarter. Umpqua Bank lifted its stake in shares of Chevron by 5.7% in the second quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock worth $3,101,000 after buying an additional 1,078 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Chevron by 4,325.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares during the last quarter. Chris Bulman Inc bought a new position in Chevron in the 2nd quarter worth $76,000. Finally, Delta Financial Advisors LLC grew its position in shares of Chevron by 32.1% in the second quarter. Delta Financial Advisors LLC now owns 20,231 shares of the oil and gas company’s stock valued at $3,165,000 after purchasing an additional 4,921 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.19.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $1.98 during trading hours on Monday, hitting $149.83. 1,204,876 shares of the stock were exchanged, compared to its average volume of 4,524,792. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $269.26 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. 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’s fifty day simple moving average is $153.67 and its two-hundred day simple moving average is $151.21.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.