Richard P Slaughter Associates Inc Decreases Stake in Chevron Co. (NYSE:CVX)

Richard P Slaughter Associates Inc lessened its position in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,856 shares of the oil and gas company’s stock after selling 181 shares during the period. Richard P Slaughter Associates Inc’s holdings in Chevron were worth $2,152,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVX. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter valued at $29,000. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.9 %

Shares of CVX stock opened at $158.25 on Thursday. The company has a market capitalization of $284.39 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.62 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 business’s 50 day moving average is $153.78 and its two-hundred day moving average is $150.95. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $3.05 EPS. Equities analysts forecast that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

Several equities analysts have commented on CVX shares. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. DZ Bank raised 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. Finally, UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.87.

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.