Chevron Co. (NYSE:CVX) Stock Position Decreased by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,284 shares of the oil and gas company’s stock after selling 1,662 shares during the quarter. Chevron accounts for 1.0% of Phillips Wealth Planners LLC’s portfolio, making the stock its 26th largest holding. Phillips Wealth Planners LLC’s holdings in Chevron were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CVX. Fred Alger Management LLC boosted its stake in shares of Chevron by 7.4% during the 2nd quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock worth $10,022,000 after acquiring an additional 4,435 shares in the last quarter. AXA S.A. lifted its holdings in shares of Chevron by 15.1% in the second quarter. AXA S.A. now owns 413,390 shares of the oil and gas company’s stock valued at $64,662,000 after purchasing an additional 54,363 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Chevron by 41.3% in the second quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock valued at $134,233,000 after purchasing an additional 250,902 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC purchased a new stake in shares of Chevron in the second quarter valued at $216,000. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was 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 directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Trading Down 0.3 %

Chevron stock opened at $155.99 on Friday. 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 $280.32 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.39 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s fifty day moving average price is $154.05 and its two-hundred day moving average price is $151.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $3.05 earnings per share. On average, analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.