308 Shares in Chevron Co. (NYSE:CVX) Bought by Prudent Man Investment Management Inc.

Prudent Man Investment Management Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 308 shares of the oil and gas company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wallace Capital Management Inc. raised its position in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the period. TFB Advisors LLC raised its holdings in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its stake in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the period. Finally, Meridian Financial Partners LLC grew its position in Chevron by 0.5% in the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

CVX stock opened at $166.06 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The firm has a market cap of $292.37 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day simple moving average of $157.10 and a two-hundred day simple moving average of $153.60.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the company earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 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.