Cetera Investment Advisers Reduces Position in Chevron Co. (NYSE:CVX)

Cetera Investment Advisers reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 710,919 shares of the oil and gas company's stock after selling 12,133 shares during the quarter. Cetera Investment Advisers' holdings in Chevron were worth $102,969,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. Bridgeway Capital Management LLC boosted its stake in Chevron by 5.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 128,262 shares of the oil and gas company's stock worth $18,578,000 after buying an additional 7,021 shares during the last quarter. Brooks Moore & Associates Inc. grew its holdings in Chevron by 0.5% in the fourth quarter. Brooks Moore & Associates Inc. now owns 32,857 shares of the oil and gas company's stock valued at $4,759,000 after purchasing an additional 169 shares during the period. Blue Capital Inc. acquired a new position in Chevron during the fourth quarter worth approximately $690,000. Bulltick Wealth Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at $1,997,000. Finally, Cahill Financial Advisors Inc. grew its stake in shares of Chevron by 40.9% during the 4th quarter. Cahill Financial Advisors Inc. now owns 2,808 shares of the oil and gas company's stock valued at $407,000 after buying an additional 815 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

CVX traded up $0.13 during trading on Wednesday, hitting $135.73. 8,420,168 shares of the stock traded hands, compared to its average volume of 7,988,226. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50 day moving average price of $148.49 and a 200 day moving average price of $152.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $238.97 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.04%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $161.25.

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.