Gilliland Jeter Wealth Management LLC Sells 697 Shares of Chevron Co. (NYSE:CVX)

Gilliland Jeter Wealth Management LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,390 shares of the oil and gas company’s stock after selling 697 shares during the period. Chevron accounts for approximately 1.2% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Gilliland Jeter Wealth Management LLC’s holdings in Chevron were worth $3,678,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the 4th quarter valued at about $39,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday. Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

CVX opened at $151.86 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 company has a fifty day moving average of $152.60 and a 200 day moving average of $150.90. The stock has a market capitalization of $272.90 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last released 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 prior year, the business posted $3.45 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.