Valmark Advisers Inc. Sells 3,118 Shares of Chevron Co. (NYSE:CVX)

Valmark Advisers Inc. lowered its position in shares of Chevron Co. (NYSE:CVX) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,230 shares of the oil and gas company’s stock after selling 3,118 shares during the quarter. Valmark Advisers Inc.’s holdings in Chevron were worth $1,973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $33,000. Legacy Financial Group LLC acquired a new position in Chevron in the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVX shares. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company increased their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Price Performance

Shares of CVX stock traded up $0.61 during trading hours on Friday, reaching $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm’s 50 day simple moving average is $156.58 and its 200-day simple moving average is $151.83. The company has a market capitalization of $308.10 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 2.43 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 57.39%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.