B. Riley Wealth Advisors Inc. Sells 5,396 Shares of Chevron Co. (NYSE:CVX)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 81,570 shares of the oil and gas company's stock after selling 5,396 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Chevron were worth $11,815,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the last quarter. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp lifted its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.1%

Chevron stock traded up $1.56 during mid-day trading on Thursday, reaching $137.58. 4,659,559 shares of the company traded hands, compared to its average volume of 8,069,632. 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 firm's 50 day moving average price is $143.01 and its 200 day moving average price is $150.83. The firm has a market capitalization of $240.27 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVX shares. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $160.24.

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.