Delos Wealth Advisors LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Delos Wealth Advisors LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 22.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 415 shares of the oil and gas company’s stock after selling 123 shares during the period. Delos Wealth Advisors LLC’s holdings in Chevron were worth $62,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVX. Strategic Investment Advisors MI boosted its position in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its holdings in Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after acquiring an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC grew its position in Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares during the period. Investment Partners LTD. increased its stake in Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the last quarter. Finally, ACT Wealth Management LLC raised its holdings in shares of Chevron by 1.7% in the 4th quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock worth $641,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Performance

NYSE:CVX traded up $2.95 during midday trading on Thursday, reaching $165.49. 6,682,814 shares of the company traded hands, compared to its average volume of 8,426,376. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market capitalization of $305.66 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a fifty day moving average price of $157.82 and a 200 day moving average price of $151.53.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.94%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold 13,247 shares of company stock worth $2,154,164 over the last ninety days. Company insiders own 0.20% 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.