Cutter & CO Brokerage Inc. Sells 1,125 Shares of Chevron Co. (NYSE:CVX)

Cutter & CO Brokerage Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,225 shares of the oil and gas company’s stock after selling 1,125 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Chevron were worth $3,017,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of 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 worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $33,000. Legacy Financial Group LLC bought a new stake in shares of Chevron during the third quarter worth approximately $43,000. Finally, Roble Belko & Company Inc raised its stake in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. Mizuho boosted their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Truist Financial decreased their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.75.

Chevron Stock Performance

NYSE:CVX traded up $0.93 during mid-day trading on Tuesday, reaching $162.85. 5,533,624 shares of the company’s stock were exchanged, compared to its average volume of 8,459,302. Chevron Co. has a one year low of $139.62 and a one year high of $172.38. The firm has a market capitalization of $302.46 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The business’s fifty day simple moving average is $155.63 and its two-hundred day simple moving average is $151.66. 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 released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the firm earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.