Chevron Co. (NYSE:CVX) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA reduced its stake in shares of Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,538 shares of the oil and gas company’s stock after selling 139 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Chevron were worth $657,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Pettinga Financial Advisors LLC grew its position in Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the period. Petra Financial Advisors Inc. acquired a new stake in shares of Chevron during the 3rd quarter valued at about $249,000. United Asset Strategies Inc. grew its position in shares of Chevron by 4.0% during the 3rd quarter. United Asset Strategies Inc. now owns 80,380 shares of the oil and gas company’s stock valued at $11,838,000 after acquiring an additional 3,105 shares during the period. Cordatus Wealth Management LLC grew its position in shares of Chevron by 0.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 18,884 shares of the oil and gas company’s stock valued at $2,781,000 after acquiring an additional 90 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Chevron by 1.0% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 197,947 shares of the oil and gas company’s stock valued at $29,152,000 after acquiring an additional 2,021 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. Piper Sandler lowered their price objective on 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 price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Up 1.2 %

CVX stock opened at $158.59 on Friday. The firm has a market cap of $285.00 billion, a PE ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11. 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 firm’s 50 day moving average price is $153.14 and its 200-day moving average price is $151.44. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 posted $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. 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 annualized dividend and a dividend yield of 4.31%. Chevron’s payout ratio is 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.