Financial Enhancement Group LLC Sells 233 Shares of Chevron Co. (NYSE:CVX)

Financial Enhancement Group LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the oil and gas company’s stock after selling 233 shares during the quarter. Financial Enhancement Group LLC’s holdings in Chevron were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in Chevron in the second quarter worth $2,398,000. Waterloo Capital L.P. lifted its holdings in shares of Chevron by 4.1% in the 2nd quarter. Waterloo Capital L.P. now owns 7,542 shares of the oil and gas company’s stock worth $1,180,000 after acquiring an additional 300 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Chevron during the 2nd quarter worth about $1,335,000. Carolinas Wealth Consulting LLC grew its holdings in Chevron by 12.8% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 4,038 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 459 shares during the last quarter. Finally, Altrius Capital Management Inc lifted its stake in Chevron by 5.3% in the second quarter. Altrius Capital Management Inc now owns 28,192 shares of the oil and gas company’s stock worth $4,410,000 after purchasing an additional 1,421 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $159.33 on Friday. The company has a market capitalization of $286.32 billion, a PE ratio of 17.51, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day simple moving average is $153.79 and its 200-day simple moving average is $151.00.

Chevron (NYSE:CVX) last announced its 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 the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company increased their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Company 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.