West Michigan Advisors LLC Sells 1,001 Shares of Chevron Co. (NYSE:CVX)

West Michigan Advisors LLC lowered its position in Chevron Co. (NYSE:CVX) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,953 shares of the oil and gas company’s stock after selling 1,001 shares during the quarter. West Michigan Advisors LLC’s holdings in Chevron were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

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 value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Up 1.2 %

Shares of Chevron stock opened at $158.59 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The business has a fifty day simple moving average of $153.14 and a 200 day simple moving average of $151.44. The stock has a market cap of $285.00 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

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 analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm earned $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

About Chevron

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.