Fortune Financial Advisors LLC Sells 335 Shares of Chevron Co. (NYSE:CVX)

Fortune Financial Advisors LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,160 shares of the oil and gas company’s stock after selling 335 shares during the quarter. Chevron makes up about 1.6% of Fortune Financial Advisors LLC’s portfolio, making the stock its 19th biggest holding. Fortune Financial Advisors LLC’s holdings in Chevron were worth $2,261,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. DHJJ Financial Advisors Ltd. bought a new position in shares of Chevron during the third quarter worth approximately $35,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the first quarter worth approximately $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Chevron Trading Up 0.5 %

NYSE CVX opened at $162.00 on Wednesday. The company has a market cap of $300.88 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $154.20 and its 200 day moving average is $152.18.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the firm posted $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.19 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s payout ratio is currently 57.39%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, UBS Group increased their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.26.

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.