Resonant Capital Advisors LLC Sells 1,677 Shares of Chevron Co. (NYSE:CVX)

Resonant Capital Advisors LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,957 shares of the oil and gas company’s stock after selling 1,677 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Chevron were worth $4,767,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV increased its stake 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 purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron during the 3rd quarter worth approximately $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’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 sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Chevron Trading Up 1.6 %

Shares of CVX stock traded up $2.48 during mid-day trading on Friday, reaching $160.05. The stock had a trading volume of 4,661,407 shares, compared to its average volume of 8,475,536. The stock’s 50-day moving average price is $155.26 and its two-hundred day moving average price is $151.90. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The firm has a market capitalization of $297.26 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. 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 previous year, the company earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 13.27 earnings per share 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 dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.07%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group upgraded shares of 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. Mizuho lifted their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $184.75.

About Chevron

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.