New Century Financial Group LLC Sells 8,605 Shares of Chevron Co. (NYSE:CVX)

New Century Financial Group LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 32.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,846 shares of the oil and gas company’s stock after selling 8,605 shares during the quarter. Chevron comprises about 1.1% of New Century Financial Group LLC’s investment portfolio, making the stock its 14th largest holding. New Century Financial Group LLC’s holdings in Chevron were worth $2,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter valued at $31,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $155.62 on Friday. The firm has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a fifty day simple moving average of $153.93 and a 200 day simple moving average of $151.14. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $48.86 billion. During the same period last year, the company earned $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. UBS Group increased their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.