Advance Capital Management Inc. Trims Position in Chevron Co. (NYSE:CVX)

Advance Capital Management Inc. reduced its position in Chevron Co. (NYSE:CVX) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,456 shares of the oil and gas company’s stock after selling 248 shares during the quarter. Advance Capital Management Inc.’s holdings in Chevron were worth $211,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Insight Wealth Strategies LLC grew its position in shares of Chevron by 0.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company’s stock valued at $29,115,000 after purchasing an additional 1,092 shares in the last quarter. Doliver Advisors LP grew its position in Chevron by 0.9% during the fourth quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock worth $1,156,000 after buying an additional 70 shares in the last quarter. Bard Financial Services Inc. increased its stake in Chevron by 0.3% in the 4th quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock worth $9,087,000 after acquiring an additional 200 shares during the last quarter. Neville Rodie & Shaw Inc. raised its holdings in shares of Chevron by 2.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company’s stock valued at $9,039,000 after acquiring an additional 1,767 shares in the last quarter. Finally, First City Capital Management Inc. boosted its position in shares of Chevron by 2.6% during the 4th quarter. First City Capital Management Inc. now owns 19,034 shares of the oil and gas company’s stock valued at $2,757,000 after acquiring an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.5 %

Shares of Chevron stock traded down $0.75 during midday trading on Monday, reaching $147.10. 5,819,042 shares of the company’s stock traded hands, compared to its average volume of 5,926,819. The company has a market cap of $264.35 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The stock has a 50 day moving average of $153.67 and a 200-day moving average of $151.21. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the company posted $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Piper Sandler cut 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.19.

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.