WESCAP Management Group Inc. Sells 1,563 Shares of Chevron Co. (NYSE:CVX)

WESCAP Management Group Inc. trimmed its holdings in Chevron Co. (NYSE:CVX) by 39.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,374 shares of the oil and gas company’s stock after selling 1,563 shares during the quarter. WESCAP Management Group Inc.’s holdings in Chevron were worth $354,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVX. Sweet Financial Partners LLC boosted its position 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 worth $1,477,000 after purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI boosted its position 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 worth $296,000 after purchasing an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its position in Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC boosted its position in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares during the last quarter. Finally, Investment Partners LTD. boosted its position in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Finally, Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Price Performance

NYSE:CVX traded down $0.48 during trading hours on Friday, reaching $160.25. The stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a 50 day moving average price of $157.26 and a two-hundred day moving average price of $151.76. The stock has a market capitalization of $297.63 billion, a PE ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity

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

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.