Legacy Capital Wealth Partners LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Legacy Capital Wealth Partners LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,100 shares of the oil and gas company’s stock after selling 170 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Chevron were worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $33,000. Legacy Financial Group LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CVX shares. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Price Performance

CVX traded up $0.61 during trading 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 company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $151.73. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now 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 can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.