Capstone Wealth Management Group LLC Cuts Position in Chevron Co. (NYSE:CVX)

Capstone Wealth Management Group LLC cut its stake in Chevron Co. (NYSE:CVX) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,339 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Capstone Wealth Management Group LLC’s holdings in Chevron were worth $918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. State Street Corp grew its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC grew its stake in Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Franklin Resources Inc. grew its stake in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after buying an additional 573,218 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value 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 represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $156.85 on Wednesday. The stock has a market capitalization of $281.87 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.93 and a beta of 1.12. Chevron Co. has a twelve month low of $135.37 and a twelve month 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 stock has a 50-day moving average of $153.78 and a 200 day moving average of $150.95.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. UBS Group boosted their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.