Aspire Private Capital LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Aspire Private Capital LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 15.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 986 shares of the oil and gas company’s stock after selling 175 shares during the quarter. Aspire Private Capital LLC’s holdings in Chevron were worth $147,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the third quarter valued at $43,000. Finally, Keener Financial Planning LLC purchased a new position in Chevron in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Chevron Stock Performance

NYSE:CVX traded down $0.26 during mid-day trading on Tuesday, reaching $161.66. The stock had a trading volume of 1,119,522 shares, compared to its average volume of 8,400,271. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market capitalization of $300.25 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 2.36 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The business has a 50 day simple moving average of $155.63 and a 200 day simple moving average of $151.66.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.09 earnings per share. On average, analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $184.75.

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.