Ibex Wealth Advisors Sells 12,225 Shares of Chevron Co. (NYSE:CVX)

Ibex Wealth Advisors decreased its stake in shares of Chevron Co. (NYSE:CVX) by 20.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,424 shares of the oil and gas company’s stock after selling 12,225 shares during the quarter. Ibex Wealth Advisors’ holdings in Chevron were worth $6,724,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth $31,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Chevron during the third quarter valued at $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company upped 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. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of CVX stock opened at $155.79 on Thursday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two 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. The firm has a market capitalization 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 stock’s 50-day simple moving average is $153.67 and its 200-day simple moving average is $151.13.

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. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.05 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.