Naviter Wealth LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Naviter Wealth LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,504 shares of the oil and gas company’s stock after selling 2,335 shares during the quarter. Naviter Wealth LLC’s holdings in Chevron were worth $1,418,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised 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 period. Valued Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $33,000. Legacy Financial Group LLC acquired a new stake in Chevron in the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc raised its position in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVX shares. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial decreased their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $185.25.

Chevron Stock Performance

Shares of CVX opened at $165.21 on Tuesday. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market cap of $306.84 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.44 and a beta of 1.12. The company has a 50-day moving average of $156.81 and a two-hundred day moving average of $151.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the company posted $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. Chevron’s payout ratio is 59.98%.

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.