Chevron Co. (NYSE:CVX) Holdings Decreased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,275 shares of the oil and gas company’s stock after selling 7,508 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Chevron were worth $19,159,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C acquired a new position in Chevron during the 2nd quarter valued at approximately $244,000. Scientech Research LLC lifted its stake in Chevron by 132.3% in the second quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 2,849 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Chevron by 26.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 5,454 shares of the oil and gas company’s stock valued at $853,000 after acquiring an additional 1,154 shares during the period. Oliver Lagore Vanvalin Investment Group grew its position in shares of Chevron by 12.2% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 9,396 shares of the oil and gas company’s stock worth $1,470,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Core Wealth Advisors Inc. increased its holdings in shares of Chevron by 7.5% in the 2nd quarter. Core Wealth Advisors Inc. now owns 1,279 shares of the oil and gas company’s stock worth $200,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $155.62 on Friday. The stock has a fifty day simple moving average of $153.81 and a 200 day simple moving average of $151.15. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $279.66 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

Several research analysts have commented on CVX shares. UBS Group upped their target price 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. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Raymond James raised their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In other Chevron 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 completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company 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.