Certified Advisory Corp Sells 1,158 Shares of Chevron Co. (NYSE:CVX)

Certified Advisory Corp lessened its holdings in Chevron Co. (NYSE:CVX) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,854 shares of the oil and gas company’s stock after selling 1,158 shares during the quarter. Certified Advisory Corp’s holdings in Chevron were worth $2,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP bought a new position in shares of Chevron during the second quarter valued at $1,335,000. Cowa LLC lifted its holdings in Chevron by 8.5% during the 2nd quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC boosted its position in Chevron by 6.8% in the second quarter. Brighton Jones LLC now owns 24,672 shares of the oil and gas company’s stock valued at $3,859,000 after buying an additional 1,581 shares in the last quarter. Ieq Capital LLC grew its stake in Chevron by 9.0% during the second quarter. Ieq Capital LLC now owns 102,975 shares of the oil and gas company’s stock worth $16,107,000 after buying an additional 8,518 shares during the last quarter. Finally, GM Advisory Group LLC increased its holdings in shares of Chevron by 0.5% during the second quarter. GM Advisory Group LLC now owns 20,961 shares of the oil and gas company’s stock worth $3,279,000 after buying an additional 104 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James raised their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Up 1.4 %

NYSE:CVX opened at $161.54 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock’s fifty day simple moving average is $153.84 and its 200-day simple moving average is $151.06. The firm has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio is 71.65%.

About Chevron

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.