Socha Financial Group LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Socha Financial Group LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,964 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Chevron comprises about 0.1% of Socha Financial Group LLC’s holdings, making the stock its 24th biggest holding. Socha Financial Group LLC’s holdings in Chevron were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Sweet Financial Partners LLC increased its holdings in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the period. Strategic Investment Advisors MI increased its stake in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares during the period. Regent Peak Wealth Advisors LLC increased its stake in Chevron by 1.4% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 68 shares during the period. Octavia Wealth Advisors LLC grew its stake in shares of Chevron by 1.3% during the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares during the period. Finally, Rosenbaum Jay D. grew its stake in shares of Chevron by 1.4% during the 3rd quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock worth $870,000 after purchasing an additional 70 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Finally, Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Up 0.6 %

CVX traded up $0.93 on Tuesday, reaching $162.85. 5,587,920 shares of the company’s stock were exchanged, compared to its average volume of 8,459,302. The company’s 50 day moving average is $155.63 and its 200-day moving average is $151.66. The company has a market cap of $302.46 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.36 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the company earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced 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. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on 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 in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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.