Eagle Wealth Strategies LLC Sells 192 Shares of Chevron Co. (NYSE:CVX)

Eagle Wealth Strategies LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,256 shares of the oil and gas company’s stock after selling 192 shares during the quarter. Chevron comprises 1.1% of Eagle Wealth Strategies LLC’s investment portfolio, making the stock its 14th biggest holding. Eagle Wealth Strategies LLC’s holdings in Chevron were worth $1,486,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Viking Fund Management LLC boosted its holdings in Chevron by 52.9% in the fourth quarter. Viking Fund Management LLC now owns 107,000 shares of the oil and gas company’s stock worth $15,498,000 after acquiring an additional 37,000 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in Chevron by 1.2% in the fourth quarter. Global Trust Asset Management LLC now owns 6,591 shares of the oil and gas company’s stock worth $955,000 after acquiring an additional 80 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Chevron by 8.6% in the fourth quarter. Advisory Alpha LLC now owns 8,324 shares of the oil and gas company’s stock worth $1,206,000 after acquiring an additional 662 shares in the last quarter. West Branch Capital LLC boosted its holdings in Chevron by 18.5% in the fourth quarter. West Branch Capital LLC now owns 9,689 shares of the oil and gas company’s stock worth $1,403,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted its holdings in Chevron by 4.1% in the fourth quarter. Missouri Trust & Investment Co now owns 19,859 shares of the oil and gas company’s stock worth $2,876,000 after acquiring an additional 783 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. 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 note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Performance

Shares of CVX opened at $155.99 on Friday. 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 business has a 50-day simple moving average of $154.05 and a two-hundred day simple moving average of $151.11. The stock has a market cap of $280.32 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.39 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.05 earnings per share. On average, analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.