Frazier Financial Advisors LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Frazier Financial Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 462 shares of the oil and gas company’s stock after selling 319 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Chevron were worth $66,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

NYSE CVX opened at $166.73 on Friday. The business has a 50 day moving average price of $157.01 and a 200 day moving average price of $153.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

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 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 company posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Chevron Company 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.