Financial Partners Group LLC Has $4.09 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Financial Partners Group LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 16.3% during the fourth quarter, Holdings Channel reports. The firm owned 28,208 shares of the oil and gas company’s stock after selling 5,481 shares during the quarter. Chevron comprises about 1.7% of Financial Partners Group LLC’s holdings, making the stock its 18th largest position. Financial Partners Group LLC’s holdings in Chevron were worth $4,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hengehold Capital Management LLC raised its stake in Chevron by 3.1% during the 4th quarter. Hengehold Capital Management LLC now owns 30,931 shares of the oil and gas company’s stock worth $4,480,000 after buying an additional 916 shares during the period. Seneca House Advisors raised its stake in Chevron by 9.7% during the 4th quarter. Seneca House Advisors now owns 5,210 shares of the oil and gas company’s stock worth $755,000 after buying an additional 459 shares during the period. Hedges Asset Management LLC raised its stake in Chevron by 2.9% during the 4th quarter. Hedges Asset Management LLC now owns 13,600 shares of the oil and gas company’s stock worth $1,970,000 after buying an additional 388 shares during the period. Spinnaker Investment Group LLC raised its stake in Chevron by 8.7% during the 4th quarter. Spinnaker Investment Group LLC now owns 2,420 shares of the oil and gas company’s stock worth $351,000 after buying an additional 193 shares during the period. Finally, Apeiron RIA LLC raised its stake in Chevron by 5.4% during the 4th quarter. Apeiron RIA LLC now owns 8,420 shares of the oil and gas company’s stock worth $1,220,000 after buying an additional 433 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $155.62 on Friday. The stock has a fifty day simple moving average of $153.93 and a two-hundred day simple moving average of $151.14. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market cap of $279.66 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. 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 announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 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.