Cooper Financial Group Reduces Stock Position in Chevron Co. (NYSE:CVX)

Cooper Financial Group lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,660 shares of the oil and gas company’s stock after selling 214 shares during the period. Cooper Financial Group’s holdings in Chevron were worth $2,558,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter valued at $29,000. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX traded up $2.20 during trading hours on Monday, reaching $155.34. 6,268,794 shares of the stock traded hands, compared to its average volume of 7,356,717. The company has a market cap of $279.16 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $153.69 and its two-hundred day moving average price is $150.95.

Chevron (NYSE:CVX) last announced its quarterly 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. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.05 EPS. On average, analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group raised their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler lowered their target price on shares of 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 thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.87.

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.