GSB Wealth Management LLC Sells 609 Shares of Chevron Co. (NYSE:CVX)

GSB Wealth Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,506 shares of the oil and gas company’s stock after selling 609 shares during the quarter. GSB Wealth Management LLC’s holdings in Chevron were worth $2,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth about $31,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth about $47,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVX shares. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Barclays lifted 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. UBS Group lifted 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, Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Down 0.3 %

Shares of CVX stock opened at $155.62 on Monday. The company has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $151.14. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s payout ratio is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.