Yarger Wealth Strategies LLC Cuts Holdings in Chevron Co. (NYSE:CVX)

Yarger Wealth Strategies LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,793 shares of the oil and gas company’s stock after selling 81 shares during the quarter. Yarger Wealth Strategies LLC’s holdings in Chevron were worth $260,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVX. Total Wealth Planning LLC lifted its position in shares of Chevron by 38.5% during the 4th quarter. Total Wealth Planning LLC now owns 11,062 shares of the oil and gas company’s stock valued at $1,602,000 after buying an additional 3,077 shares in the last quarter. Goldstone Financial Group LLC raised its position in Chevron by 21.2% during the fourth quarter. Goldstone Financial Group LLC now owns 4,977 shares of the oil and gas company’s stock worth $721,000 after acquiring an additional 870 shares during the period. Capital Planning LLC raised its position in Chevron by 15.2% during the fourth quarter. Capital Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares during the period. Decker Retirement Planning Inc. purchased a new position in Chevron during the fourth quarter valued at $98,000. Finally, Empirical Asset Management LLC grew its position in shares of Chevron by 374.1% in the fourth quarter. Empirical Asset Management LLC now owns 126,940 shares of the oil and gas company’s stock valued at $18,386,000 after purchasing an additional 100,164 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of CVX stock opened at $161.54 on Friday. The firm’s 50-day moving average is $153.84 and its two-hundred day moving average is $151.06. The company has a market capitalization of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.