Rep. Jared Moskowitz Sells Off Shares of Chevron Co. (NYSE:CVX)

Representative Jared Moskowitz (D-Florida) recently sold shares of Chevron Co. (NYSE:CVX). In a filing disclosed on December 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Chevron stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (1)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Chevron Price Performance

CVX stock opened at $157.07 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $282.27 billion, a P/E ratio of 17.25, a PEG ratio of 3.43 and a beta of 1.10. The stock’s 50 day moving average price is $154.97 and its 200 day moving average price is $152.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lantz Financial LLC boosted its stake in shares of Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 623 shares in the last quarter. Intergy Private Wealth LLC acquired a new stake in shares of Chevron during the second quarter worth approximately $205,000. Brendel Financial Advisors LLC bought a new position in shares of Chevron in the second quarter valued at approximately $1,266,000. Wedmont Private Capital boosted its holdings in shares of Chevron by 7.8% in the 2nd quarter. Wedmont Private Capital now owns 13,982 shares of the oil and gas company’s stock worth $2,175,000 after acquiring an additional 1,016 shares in the last quarter. Finally, M&G Plc increased its holdings in Chevron by 84.4% during the 2nd quarter. M&G Plc now owns 190,034 shares of the oil and gas company’s stock valued at $29,645,000 after purchasing an additional 86,993 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

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.