Resonant Capital Advisors LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Resonant Capital Advisors LLC lowered its position in Chevron Co. (NYSE:CVX) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,957 shares of the oil and gas company’s stock after selling 1,677 shares during the period. Resonant Capital Advisors LLC’s holdings in Chevron were worth $4,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Picton Mahoney Asset Management acquired a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth approximately $33,000. Worth Asset Management LLC acquired a new stake in Chevron in the 1st quarter worth approximately $36,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron in the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Chevron Stock Performance

Shares of CVX traded up $2.48 during trading hours on Friday, hitting $160.05. The stock had a trading volume of 4,661,407 shares, compared to its average volume of 8,475,536. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a 50-day moving average price of $155.26 and a 200 day moving average price of $151.90. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The firm has a market capitalization of $297.26 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Analysts Set New Price Targets

A number of research firms recently commented on CVX. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Truist Financial lowered their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $184.75.

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.