Dakota Wealth Management Has $11.24 Million Stock Position in Chevron Co. (NYSE:CVX)

Dakota Wealth Management lowered its position in shares of Chevron Co. (NYSE:CVX) by 15.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,596 shares of the oil and gas company’s stock after selling 14,526 shares during the quarter. Dakota Wealth Management’s holdings in Chevron were worth $11,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. Rational Advisors LLC acquired a new position in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter valued at about $31,000. Finally, Krane Funds Advisors LLC acquired a new position in Chevron in the third quarter valued at about $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

NYSE:CVX opened at $155.99 on Friday. The stock has a market cap of $280.32 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. 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’s 50-day moving average is $154.05 and its 200-day moving average is $151.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating 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 business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial lifted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Raymond James lifted their target price on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Four equities research 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, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.