Chevron Co. (NYSE:CVX) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. trimmed its stake in Chevron Co. (NYSE:CVX – Get Rating) by 5.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,688 shares of the oil and gas company’s stock after selling 1,059 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Chevron were worth $2,829,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CVX. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC increased its stake in shares of Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Chevron by 57.4% during the 1st quarter. Vontobel Holding Ltd. now owns 71,881 shares of the oil and gas company’s stock worth $11,895,000 after purchasing an additional 26,203 shares in the last quarter. Boston Financial Mangement LLC lifted its stake in shares of Chevron by 8.9% in the 1st quarter. Boston Financial Mangement LLC now owns 10,794 shares of the oil and gas company’s stock valued at $1,758,000 after purchasing an additional 881 shares during the last quarter. Finally, Prudential PLC acquired a new stake in shares of Chevron in the first quarter worth about $5,660,000. Institutional investors own 69.37% of the company’s stock.

Chevron Stock Down 1.1 %

CVX opened at $172.14 on Thursday. The company has a market cap of $332.86 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18. Chevron Co. has a 12 month low of $121.64 and a 12 month high of $189.68. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $178.70 and a 200 day moving average of $162.75.

Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The business had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. During the same period in the previous year, the business posted $2.96 earnings per share. Chevron’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 19.13 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were issued a dividend of $1.42 per share. The ex-dividend date was Thursday, November 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.30%. Chevron’s dividend payout ratio is currently 32.31%.

Analysts Set New Price Targets

A number of research firms have issued reports on CVX. Barclays raised their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup boosted their target price on shares of Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. Piper Sandler cut their price target on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Cowen lifted their price target on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Finally, Jefferies Financial Group initiated coverage on shares of Chevron in a research note on Wednesday, October 19th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $184.60.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 143,466 shares of Chevron stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $179.30, for a total transaction of $25,723,453.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James William Johnson sold 143,466 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $179.30, for a total transaction of $25,723,453.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,563 shares of company stock worth $53,186,421. 0.32% of the stock is currently owned by company insiders.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.