Socha Financial Group LLC Sells 315 Shares of Chevron Co. (NYSE:CVX)

Socha Financial Group LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,964 shares of the oil and gas company’s stock after selling 315 shares during the period. Chevron comprises 0.1% of Socha Financial Group LLC’s portfolio, making the stock its 24th largest position. Socha Financial Group LLC’s holdings in Chevron were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sweet Financial Partners LLC raised its stake in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI raised its stake in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its position in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 68 shares during the period. Octavia Wealth Advisors LLC raised its stake in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after buying an additional 68 shares in the last quarter. Finally, Rosenbaum Jay D. raised its stake in Chevron by 1.4% in the third quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock worth $870,000 after buying an additional 70 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

CVX stock traded up $0.93 on Tuesday, hitting $162.85. The company had a trading volume of 5,587,920 shares, compared to its average volume of 8,459,302. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.38. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $155.63 and its 200 day simple moving average is $151.66. The stock has a market cap of $302.46 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the company posted $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVX shares. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Truist Financial decreased their price target 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. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $184.75.

About Chevron

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.