Richwood Investment Advisors LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Richwood Investment Advisors LLC cut its holdings in Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,480 shares of the oil and gas company’s stock after selling 190 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Chevron were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter worth approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% in the third 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 during the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $33,000. Finally, Roble Belko & Company Inc grew its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CVX. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Mizuho upped their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Truist Financial increased their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,796 shares of company stock worth $2,575,361. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $2.40 during midday trading on Wednesday, reaching $157.57. 6,249,095 shares of the stock were exchanged, compared to its average volume of 8,192,852. The firm has a 50-day simple moving average of $160.08 and a two-hundred day simple moving average of $152.34. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market cap of $291.03 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.38 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is currently 59.98%.

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.