Bartlett & CO. Wealth Management LLC Sells 7,378 Shares of Chevron Co. (NYSE:CVX)

Bartlett & CO. Wealth Management LLC decreased its stake in Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 534,400 shares of the oil and gas company’s stock after selling 7,378 shares during the period. Chevron comprises approximately 1.1% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its 28th biggest position. Bartlett & CO. Wealth Management LLC’s holdings in Chevron were worth $77,403,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Marietta Wealth Management LLC lifted its holdings in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC raised its position in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC boosted its holdings in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the period. Finally, State Street Corp increased its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. 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 target price on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $155.99 on Friday. The business’s 50 day moving average price is $154.05 and its 200-day moving average price is $151.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market cap of $280.32 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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

Chevron Announces Dividend

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

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.