Chevron Co. (NYSE:CVX) Shares Sold by B. Riley Wealth Advisors Inc.

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. TFB Advisors LLC lifted its holdings in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its holdings in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after acquiring an additional 66 shares during the period. Western Pacific Wealth Management LP lifted its holdings in Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after acquiring an additional 67 shares during the period. Finally, Berkeley Capital Partners LLC lifted its holdings in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.9%

Shares of CVX traded up $1.24 during mid-day trading on Tuesday, reaching $137.78. The company's stock had a trading volume of 8,339,036 shares, compared to its average volume of 8,082,749. The stock has a market cap of $240.62 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company's 50 day moving average is $144.12 and its 200 day moving average is $151.03.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the firm earned $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler cut their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three investment 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.