Onyx Bridge Wealth Group LLC Sells 841 Shares of Chevron Co. (NYSE:CVX)

Onyx Bridge Wealth Group LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,965 shares of the oil and gas company’s stock after selling 841 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Chevron were worth $1,785,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. Moneta Group Investment Advisors LLC increased its holdings in shares of Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at $3,058,235,000. Imprint Wealth LLC increased its holdings in Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after purchasing an additional 5,343,782 shares during the period. Morgan Stanley increased its holdings in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Piper Sandler increased 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. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.75.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.43 during mid-day trading on Friday, reaching $160.00. The company had a trading volume of 7,592,840 shares, compared to its average volume of 8,519,150. The company’s 50-day moving average price is $155.44 and its 200-day moving average price is $151.86. 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 Co. has a one year low of $139.62 and a one year high of $172.38. The firm has a market cap of $297.16 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business 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 firm posted $4.09 EPS. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on 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 approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.