SeaCrest Wealth Management LLC Sells 453 Shares of Chevron Co. (NYSE:CVX)

SeaCrest Wealth Management LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,413 shares of the oil and gas company’s stock after selling 453 shares during the quarter. Chevron comprises 1.2% of SeaCrest Wealth Management LLC’s holdings, making the stock its 11th biggest position. SeaCrest Wealth Management LLC’s holdings in Chevron were worth $9,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in shares of Chevron during the 3rd quarter worth about $35,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth about $33,000. Finally, Worth Asset Management LLC acquired a new position in shares of Chevron during the 1st quarter worth about $36,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 16th. Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Chevron Stock Up 0.9 %

NYSE:CVX traded up $1.39 during trading hours on Friday, reaching $157.74. 8,331,627 shares of the stock were exchanged, compared to its average volume of 8,810,399. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a 50 day moving average of $151.60 and a 200 day moving average of $152.67. The stock has a market cap of $292.97 billion, a PE ratio of 13.89, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

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.