Ipswich Investment Management Co. Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Ipswich Investment Management Co. Inc. grew its stake in Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 41,407 shares of the oil and gas company’s stock after buying an additional 176 shares during the quarter. Chevron accounts for approximately 1.4% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 21st biggest position. Ipswich Investment Management Co. Inc.’s holdings in Chevron were worth $5,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC acquired a new position in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James lowered their price objective on shares of 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 price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, 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 report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 1.2 %

Shares of CVX stock opened at $156.92 on Friday. The company 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. 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 50-day moving average price of $151.97 and a 200 day moving average price of $150.99. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the business posted $3.45 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. Chevron’s dividend payout ratio (DPR) 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.