Delos Wealth Advisors LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Delos Wealth Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 415 shares of the oil and gas company’s stock after selling 123 shares during the period. Delos Wealth Advisors LLC’s holdings in Chevron were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Morgan Stanley lifted its stake in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Chevron in the 3rd quarter valued at $348,789,000. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Chevron by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after buying an additional 1,230,619 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.8 %

Shares of NYSE CVX traded up $2.95 during mid-day trading on Thursday, hitting $165.49. 6,682,814 shares of the stock traded hands, compared to its average volume of 8,426,376. The stock has a fifty day moving average price of $157.82 and a 200-day moving average price of $151.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $305.66 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 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 in the previous year, the business posted $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.94%. Chevron’s payout ratio is 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,247 shares of company stock valued at $2,154,164 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada raised their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. HSBC boosted their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

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.