Glassman Wealth Services Has $564,000 Position in Chevron Co. (NYSE:CVX)

Glassman Wealth Services reduced its position in shares of Chevron Co. (NYSE:CVX) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,783 shares of the oil and gas company’s stock after selling 121 shares during the quarter. Glassman Wealth Services’ holdings in Chevron were worth $564,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC grew its holdings in shares of Chevron by 2,493.2% during the 3rd quarter. WealthPlan Investment Management LLC now owns 53,550 shares of the oil and gas company’s stock valued at $9,030,000 after acquiring an additional 51,485 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Chevron by 5.1% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 94,303 shares of the oil and gas company’s stock valued at $15,901,000 after acquiring an additional 4,537 shares in the last quarter. Kavar Capital Partners Group LLC grew its holdings in shares of Chevron by 28.0% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 6,469 shares of the oil and gas company’s stock valued at $1,091,000 after acquiring an additional 1,416 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Chevron by 2.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,165,879 shares of the oil and gas company’s stock valued at $196,591,000 after acquiring an additional 27,397 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Chevron during the 3rd quarter valued at $26,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Chevron stock traded up $0.81 during mid-day trading on Friday, reaching $157.75. The company had a trading volume of 4,477,720 shares, compared to its average volume of 7,033,828. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. 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 of $160.22 and a 200-day moving average of $152.54. The firm has a market cap of $290.73 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.32 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.55 EPS. On average, sell-side analysts expect that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock valued at $3,176,223. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.10.

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.