Chevron Co. (NYSE:CVX) Stock Holdings Increased by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,129 shares of the oil and gas company’s stock after purchasing an additional 2,180 shares during the period. Chevron comprises approximately 1.5% of Cutler Investment Counsel LLC’s holdings, making the stock its 27th largest position. Cutler Investment Counsel LLC’s holdings in Chevron were worth $10,759,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $33,000. Worth Asset Management LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $36,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $2.64 during midday trading on Friday, hitting $160.21. The company had a trading volume of 3,808,424 shares, compared to its average volume of 8,465,979. The firm has a fifty day simple moving average of $155.26 and a two-hundred day simple moving average of $151.90. The stock has a market cap of $297.55 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the business earned $4.09 earnings per share. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Raymond James raised their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. Finally, TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

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.