Watts Gwilliam & Co. LLC Sells 820 Shares of Chevron Co. (NYSE:CVX)

Watts Gwilliam & Co. LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 20.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,214 shares of the oil and gas company’s stock after selling 820 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Chevron were worth $481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Hawaiian Bank grew its holdings in Chevron by 0.4% during the fourth quarter. First Hawaiian Bank now owns 25,757 shares of the oil and gas company’s stock worth $3,731,000 after buying an additional 94 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in Chevron by 6.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 480,006 shares of the oil and gas company’s stock worth $69,524,000 after acquiring an additional 27,742 shares during the last quarter. InvesTrust bought a new stake in shares of Chevron in the 4th quarter worth $5,948,000. Fulton Bank N.A. raised its holdings in shares of Chevron by 5.8% in the fourth quarter. Fulton Bank N.A. now owns 52,878 shares of the oil and gas company’s stock valued at $7,659,000 after purchasing an additional 2,909 shares during the last quarter. Finally, Worth Asset Management LLC lifted its position in shares of Chevron by 52.8% during the fourth quarter. Worth Asset Management LLC now owns 2,695 shares of the oil and gas company’s stock valued at $390,000 after purchasing an additional 931 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $149.88 on Friday. The firm has a market cap of $269.35 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. 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 company’s 50 day moving average is $153.68 and its 200-day moving average is $151.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued 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 net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.35%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.60.

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.