Conservest Capital Advisors Inc. Sells 445 Shares of Chevron Co. (NYSE:CVX)

Conservest Capital Advisors Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,943 shares of the oil and gas company’s stock after selling 445 shares during the period. Conservest Capital Advisors Inc.’s holdings in Chevron were worth $1,036,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Picton Mahoney Asset Management purchased a new stake in Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at about $33,000. Legacy Financial Group LLC purchased a new stake in Chevron in the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc raised its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Royal Bank of Canada raised their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Chevron Stock Performance

Chevron stock traded up $0.61 during midday trading on Friday, hitting $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The firm has a market capitalization of $308.10 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The business has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $151.73. 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, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

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.