IAM Advisory LLC Sells 121 Shares of Chevron Co. (NYSE:CVX)

IAM Advisory LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,752 shares of the oil and gas company’s stock after selling 121 shares during the quarter. IAM Advisory LLC’s holdings in Chevron were worth $833,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CVX. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Trading Up 1.4 %

CVX opened at $161.54 on Monday. 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 stock’s fifty day moving average is $153.93 and its two-hundred day moving average is $151.05. The company has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

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

Chevron Announces Dividend

The firm also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Raymond James increased their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial upped their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, 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 report on Monday, November 4th. Four 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.