Chevron Co. (NYSE:CVX) Stock Position Reduced by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC trimmed its position in Chevron Co. (NYSE:CVX) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,331 shares of the oil and gas company’s stock after selling 278 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Chevron were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Riversedge Advisors LLC grew its position in shares of Chevron by 3.6% during the 4th quarter. Riversedge Advisors LLC now owns 3,850 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 132 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Chevron by 16.7% in the fourth quarter. Financial Management Professionals Inc. now owns 7,514 shares of the oil and gas company’s stock valued at $1,088,000 after acquiring an additional 1,076 shares during the period. TruWealth Advisors LLC grew its holdings in shares of Chevron by 1.9% during the fourth quarter. TruWealth Advisors LLC now owns 109,577 shares of the oil and gas company’s stock valued at $15,871,000 after purchasing an additional 2,030 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Chevron by 8.9% in the 4th quarter. HB Wealth Management LLC now owns 153,518 shares of the oil and gas company’s stock worth $22,235,000 after purchasing an additional 12,605 shares during the last quarter. Finally, Financial & Tax Architects LLC boosted its position in Chevron by 8.1% during the 4th quarter. Financial & Tax Architects LLC now owns 41,920 shares of the oil and gas company’s stock valued at $6,072,000 after purchasing an additional 3,132 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial lifted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

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

Chevron Stock Performance

CVX opened at $161.54 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $290.30 billion, a PE ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The business has a fifty day simple moving average of $153.93 and a 200-day simple moving average of $151.05. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. 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 dividend payout ratio (DPR) is 71.65%.

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.