Cutter & CO Brokerage Inc. Has $2.63 Million Holdings in Chevron Co. (NYSE:CVX)

Cutter & CO Brokerage Inc. lessened its position in Chevron Co. (NYSE:CVX) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,162 shares of the oil and gas company’s stock after selling 344 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Chevron were worth $2,631,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its stake in Chevron by 67.2% in the fourth quarter. Lake Street Advisors Group LLC now owns 25,372 shares of the oil and gas company’s stock valued at $3,675,000 after acquiring an additional 10,200 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $46,000. Sprott Inc. acquired a new stake in Chevron in the fourth quarter valued at approximately $432,000. Pinnacle West Asset Management Inc. grew its stake in Chevron by 3.9% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,230 shares of the oil and gas company’s stock valued at $2,206,000 after acquiring an additional 575 shares during the period. Finally, Longbow Finance SA boosted its position in shares of Chevron by 5.0% during the fourth quarter. Longbow Finance SA now owns 27,056 shares of the oil and gas company’s stock valued at $3,919,000 after buying an additional 1,281 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $156.38 on Wednesday. The firm has a market cap of $281.04 billion, a PE ratio of 16.09, a PEG ratio of 1.46 and a beta of 1.11. The stock’s fifty day moving average price is $152.30 and its two-hundred day moving average price is $151.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

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 the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s payout ratio is presently 70.37%.

Chevron 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.