Tucker Asset Management LLC Sells 713 Shares of Chevron Co. (NYSE:CVX)

Tucker Asset Management LLC cut its stake in Chevron Co. (NYSE:CVX) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,511 shares of the oil and gas company’s stock after selling 713 shares during the period. Tucker Asset Management LLC’s holdings in Chevron were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $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 holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.4 %

Chevron stock opened at $166.06 on Friday. 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 stock has a market cap of $292.37 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock has a 50-day moving average of $157.10 and a two-hundred day moving average of $153.38. Chevron Co. has a one year low of $135.37 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 previous year, the business earned $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business 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 is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVX. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut 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. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.