Iams Wealth Management LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Iams Wealth Management LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 8.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,233 shares of the oil and gas company’s stock after selling 1,061 shares during the quarter. Iams Wealth Management LLC’s holdings in Chevron were worth $1,772,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Quarry LP increased its holdings in shares of Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 260 shares during the period. Gibson Wealth Advisors LLC increased its holdings in shares of Chevron by 0.7% in the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after acquiring an additional 76 shares during the period. RiverFront Investment Group LLC increased its holdings in shares of Chevron by 12.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock valued at $10,863,000 after acquiring an additional 7,759 shares during the period. Farmers National Bank increased its stake in Chevron by 0.5% in the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock valued at $7,202,000 after buying an additional 208 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Chevron in the 2nd quarter valued at $491,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Trading Down 0.3 %

Shares of NYSE CVX opened at $155.79 on Thursday. The stock has a market cap of $279.97 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12. The business has a 50 day simple moving average of $153.67 and a 200 day simple moving average of $151.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS 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 analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. On average, research analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s 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.