W.G. Shaheen & Associates DBA Whitney & Co Buys 1,324 Shares of Chevron Co. (NYSE:CVX)

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in Chevron Co. (NYSE:CVX) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,915 shares of the oil and gas company’s stock after purchasing an additional 1,324 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Chevron were worth $4,478,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVX. Edge Capital Group LLC increased its holdings in Chevron by 4.0% during the 4th quarter. Edge Capital Group LLC now owns 69,191 shares of the oil and gas company’s stock worth $10,022,000 after purchasing an additional 2,689 shares during the period. Rothschild Investment LLC grew its position in shares of Chevron by 0.4% during the 4th quarter. Rothschild Investment LLC now owns 134,483 shares of the oil and gas company’s stock worth $19,478,000 after buying an additional 536 shares in the last quarter. Wealthstream Advisors Inc. grew its position in shares of Chevron by 4.4% during the 4th quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock worth $241,000 after buying an additional 70 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Chevron by 9.5% in the fourth quarter. IFP Advisors Inc now owns 53,671 shares of the oil and gas company’s stock valued at $7,773,000 after acquiring an additional 4,645 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its stake in Chevron by 4.6% in the fourth quarter. Rowlandmiller & PARTNERS.ADV now owns 48,334 shares of the oil and gas company’s stock worth $7,001,000 after acquiring an additional 2,111 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 1.2 %

Shares of Chevron stock opened at $156.92 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm’s 50 day simple moving average is $151.97 and its two-hundred day simple moving average is $151.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.