AFT Forsyth & Company Inc. Sells 105 Shares of Chevron Co. (NYSE:CVX)

AFT Forsyth & Company Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,064 shares of the oil and gas company’s stock after selling 105 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in Chevron were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Wedge Capital Management L L P NC increased its stake in shares of Chevron by 4.3% in the third quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 120 shares in the last quarter. Regatta Capital Group LLC increased its stake in shares of Chevron by 9.9% in the third quarter. Regatta Capital Group LLC now owns 5,497 shares of the oil and gas company’s stock valued at $810,000 after buying an additional 493 shares in the last quarter. PFG Advisors increased its stake in shares of Chevron by 5.6% in the third quarter. PFG Advisors now owns 39,340 shares of the oil and gas company’s stock valued at $5,794,000 after buying an additional 2,084 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of Chevron by 12.0% in the third quarter. Foster Victor Wealth Advisors LLC now owns 60,740 shares of the oil and gas company’s stock valued at $9,090,000 after buying an additional 6,486 shares in the last quarter. Finally, QV Investors Inc. increased its stake in shares of Chevron by 0.6% in the third quarter. QV Investors Inc. now owns 22,897 shares of the oil and gas company’s stock valued at $3,372,000 after buying an additional 140 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.6 %

NYSE:CVX opened at $154.91 on Thursday. The firm has a market capitalization of $278.39 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock’s 50 day moving average price is $151.99 and its two-hundred day moving average price is $150.81. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the business posted $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s payout ratio is presently 67.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron 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.