Sulzberger Capital Advisors Inc. Takes $312,000 Position in Chevron Co. (NYSE:CVX)

Sulzberger Capital Advisors Inc. bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel reports. The firm bought 2,154 shares of the oil and gas company’s stock, valued at approximately $312,000.

Several other hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth $29,000. Fairway Wealth LLC raised its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Navigoe LLC acquired a new position in shares of Chevron during the fourth quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.27.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 2.3 %

Shares of Chevron stock opened at $136.08 on Thursday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market cap of $239.58 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $150.55 and its 200-day moving average is $152.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 prior year, the firm posted $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Chevron Company 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.