Sound Financial Strategies Group LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Sound Financial Strategies Group LLC reduced its stake in Chevron Co. (NYSE:CVX) by 27.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,149 shares of the oil and gas company’s stock after selling 1,565 shares during the period. Chevron accounts for approximately 0.5% of Sound Financial Strategies Group LLC’s investment portfolio, making the stock its 29th largest position. Sound Financial Strategies Group LLC’s holdings in Chevron were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CVX. Sweet Financial Partners LLC raised its stake in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its position in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its position in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 68 shares in the last quarter. Octavia Wealth Advisors LLC grew its position in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares in the last quarter. Finally, Rosenbaum Jay D. grew its position in Chevron by 1.4% in the 3rd quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock worth $870,000 after purchasing an additional 70 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CVX shares. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Wells Fargo & Company increased their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Finally, Truist Financial cut their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $184.75.

Chevron Stock Performance

NYSE:CVX traded up $0.84 during midday trading on Wednesday, hitting $163.69. The company’s stock had a trading volume of 7,607,146 shares, compared to its average volume of 8,448,613. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm’s 50 day moving average is $156.14 and its 200-day moving average is $151.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market cap of $304.02 billion, a P/E ratio of 14.41, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the company earned $4.09 EPS. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.98%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

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.