Summit Trail Advisors LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Summit Trail Advisors LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,449 shares of the oil and gas company’s stock after selling 1,953 shares during the period. Summit Trail Advisors LLC’s holdings in Chevron were worth $1,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of 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 purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $33,000. Finally, Legacy Financial Group LLC purchased a new stake in Chevron during the 3rd quarter worth about $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred 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 sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have issued 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 $185.35.

Chevron Trading Up 1.3 %

NYSE CVX traded up $2.05 during trading on Monday, hitting $162.30. 8,427,958 shares of the company’s stock traded hands, compared to its average volume of 8,484,045. The firm has a market cap of $301.43 billion, a P/E ratio of 15.02, a PEG ratio of 2.37 and a beta of 1.11. The stock has a fifty day moving average of $157.26 and a two-hundred day moving average of $151.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

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.