Baxter Bros Inc. Purchases 881 Shares of Chevron Co. (NYSE:CVX)

Baxter Bros Inc. boosted its position in Chevron Co. (NYSE:CVX) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 66,268 shares of the oil and gas company’s stock after purchasing an additional 881 shares during the period. Chevron comprises 1.3% of Baxter Bros Inc.’s holdings, making the stock its 22nd largest position. Baxter Bros Inc.’s holdings in Chevron were worth $9,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at about $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVX shares. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Up 0.2 %

NYSE CVX opened at $165.10 on Tuesday. The stock has a market capitalization of $290.68 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.46 and a beta of 1.08. The business has a 50 day simple moving average of $156.49 and a 200 day simple moving average of $152.81. 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 one year low of $135.37 and a one 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 EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 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.