Oakwell Private Wealth Management LLC Sells 663 Shares of Chevron Co. (NYSE:CVX)

Oakwell Private Wealth Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 18.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,862 shares of the oil and gas company’s stock after selling 663 shares during the period. Oakwell Private Wealth Management LLC’s holdings in Chevron were worth $415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Armstrong Fleming & Moore Inc increased its stake in Chevron by 4.4% in the fourth quarter. Armstrong Fleming & Moore Inc now owns 12,762 shares of the oil and gas company’s stock worth $1,848,000 after purchasing an additional 540 shares during the period. Fjell Capital LLC purchased a new position in Chevron in the 4th quarter worth about $890,000. DMKC Advisory Services LLC bought a new stake in Chevron during the 4th quarter valued at about $1,793,000. Advisor OS LLC boosted its position in Chevron by 23.5% in the 4th quarter. Advisor OS LLC now owns 4,966 shares of the oil and gas company’s stock valued at $719,000 after buying an additional 945 shares during the period. Finally, Lake Street Advisors Group LLC increased its position in shares of Chevron by 67.2% during the fourth quarter. Lake Street Advisors Group LLC now owns 25,372 shares of the oil and gas company’s stock worth $3,675,000 after acquiring an additional 10,200 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $156.38 on Wednesday. The company has a market capitalization of $281.04 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s 50 day moving average is $152.30 and its two-hundred day moving average is $151.28. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 last year, the firm posted $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. 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 4.37%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is 70.37%.

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.