Chevron Co. (NYSE:CVX) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its stake in Chevron Co. (NYSE:CVX - Free Report) by 63.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,901 shares of the oil and gas company's stock after selling 18,529 shares during the quarter. Western Wealth Management LLC's holdings in Chevron were worth $1,579,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Helium Advisors LLC acquired a new position in shares of Chevron in the 4th quarter worth $454,000. Fourth Dimension Wealth LLC acquired a new position in shares of Chevron in the 4th quarter worth $40,000. Stonebridge Financial Planning Group LLC boosted its position in shares of Chevron by 26.7% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 1,905 shares of the oil and gas company's stock worth $276,000 after buying an additional 401 shares during the period. Breed s Hill Capital LLC purchased a new position in shares of Chevron during the fourth quarter valued at $272,000. Finally, Vise Technologies Inc. grew its holdings in shares of Chevron by 58.5% during the fourth quarter. Vise Technologies Inc. now owns 26,259 shares of the oil and gas company's stock valued at $3,803,000 after buying an additional 9,693 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Down 0.2%

Shares of CVX opened at $135.33 on Friday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $236.34 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.46 and a beta of 0.83. The stock's 50-day moving average price is $145.15 and its 200 day moving average price is $151.37.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. Chevron's dividend payout ratio is currently 78.17%.

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.

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