Avior Wealth Management LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Avior Wealth Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,798 shares of the oil and gas company’s stock after selling 2,104 shares during the quarter. Avior Wealth Management LLC’s holdings in Chevron were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sweet Financial Partners LLC raised its stake in Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares in the last quarter. NCM Capital Management LLC grew its position in Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after acquiring an additional 65 shares during the last quarter. Alera Investment Advisors LLC grew its position in Chevron by 1.0% during the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its position in Chevron by 1.0% during the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $156.28 on Wednesday. The stock has a market cap of $290.25 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The firm’s fifty day simple moving average is $155.11 and its 200 day simple moving average is $151.83. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.09 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.