Resolute Wealth Strategies LLC Sells 71 Shares of Chevron Co. (NYSE:CVX)

Resolute Wealth Strategies LLC lowered its position in Chevron Co. (NYSE:CVX) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,424 shares of the oil and gas company’s stock after selling 71 shares during the period. Resolute Wealth Strategies LLC’s holdings in Chevron were worth $511,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CVX. Sweet Financial Partners LLC increased its stake in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares during the period. Strategic Investment Advisors MI increased its stake 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 during the period. Regent Peak Wealth Advisors LLC raised its holdings in 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 purchasing an additional 68 shares in the last quarter. Octavia Wealth Advisors LLC lifted its position in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 68 shares during the period. Finally, Investment Partners LTD. boosted its holdings in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Finally, Mizuho boosted their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Trading Down 0.3 %

Shares of CVX traded down $0.48 on Friday, hitting $160.25. 11,664,505 shares of the stock traded hands, compared to its average volume of 7,516,580. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock’s 50 day moving average is $157.26 and its two-hundred day moving average is $151.76. The firm has a market capitalization of $297.63 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11. 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 issued its quarterly 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. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.55 EPS. As a group, sell-side analysts predict that Chevron Co. will post 13.53 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 $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron 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.