Chevron Co. (NYSE:CVX) Shares Sold by Rovin Capital UT ADV

Rovin Capital UT ADV reduced its stake in Chevron Co. (NYSE:CVX) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,479 shares of the oil and gas company’s stock after selling 117 shares during the quarter. Rovin Capital UT ADV’s holdings in Chevron were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CVX. Cove Private Wealth LLC acquired a new stake in shares of Chevron during the fourth quarter worth $1,375,000. Wahed Invest LLC lifted its position in Chevron by 6.1% during the 4th quarter. Wahed Invest LLC now owns 29,398 shares of the oil and gas company’s stock worth $4,385,000 after acquiring an additional 1,689 shares during the period. Red Mountain Financial LLC purchased a new stake in Chevron during the 4th quarter valued at about $466,000. ICA Group Wealth Management LLC increased its holdings in shares of Chevron by 3.3% in the fourth quarter. ICA Group Wealth Management LLC now owns 15,549 shares of the oil and gas company’s stock valued at $2,319,000 after purchasing an additional 493 shares during the period. Finally, Objective Capital Management LLC raised its stake in shares of Chevron by 3.1% in the fourth quarter. Objective Capital Management LLC now owns 2,456 shares of the oil and gas company’s stock worth $366,000 after purchasing an additional 75 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $3,176,223 over the last three months. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVX shares. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Five 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.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

NYSE:CVX opened at $153.23 on Tuesday. 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 fifty day moving average of $159.78 and a two-hundred day moving average of $153.99. The stock has a market capitalization of $282.40 billion, a PE ratio of 14.10, a P/E/G ratio of 2.27 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 earnings per share. As a group, research analysts forecast that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.