Titus Wealth Management Trims Stock Position in Chevron Co. (NYSE:CVX)

Titus Wealth Management trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,427 shares of the oil and gas company’s stock after selling 1,993 shares during the period. Chevron makes up about 16.2% of Titus Wealth Management’s portfolio, making the stock its biggest position. Titus Wealth Management’s holdings in Chevron were worth $18,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Taylor Cottrill Erickson & Associates Inc. lifted its position in Chevron by 0.5% in the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock valued at $1,967,000 after buying an additional 90 shares during the last quarter. Bingham Osborn & Scarborough LLC increased its stake in shares of Chevron by 0.5% during the fourth quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock worth $1,988,000 after buying an additional 92 shares during the period. Unison Advisors LLC increased its stake in shares of Chevron by 0.9% during the fourth quarter. Unison Advisors LLC now owns 10,873 shares of the oil and gas company’s stock worth $1,183,000 after buying an additional 96 shares during the period. Bogart Wealth LLC increased its stake in shares of Chevron by 0.5% during the fourth quarter. Bogart Wealth LLC now owns 18,554 shares of the oil and gas company’s stock worth $2,018,000 after buying an additional 97 shares during the period. Finally, Private Vista LLC increased its stake in shares of Chevron by 1.1% during the fourth quarter. Private Vista LLC now owns 9,191 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 65.39% of the company’s stock.

Shares of NYSE CVX traded up $0.40 during trading on Monday, reaching $124.84. The stock had a trading volume of 5,524,160 shares, compared to its average volume of 7,149,143. Chevron Co. has a one year low of $100.22 and a one year high of $128.55. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $237.03 billion, a PE ratio of 15.13, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50 day simple moving average of $120.76.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The company had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. Chevron’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 7.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is currently 57.70%.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Monday, April 29th. Morgan Stanley set a $146.00 price target on shares of Chevron and gave the company a “buy” rating in a research note on Monday, June 24th. Cowen reiterated a “buy” rating and issued a $142.00 price target on shares of Chevron in a research note on Wednesday, April 17th. Barclays increased their price objective on Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Citigroup increased their price objective on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $135.26.

In other news, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the completion of the sale, the director now owns 15,689 shares in the company, valued at approximately $1,910,135.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the transaction, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,800 shares of company stock worth $5,604,221. Insiders own 0.31% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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