Mathes Company Inc. Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Mathes Company Inc. lessened its position in shares of Chevron Co. (NYSE:CVX) by 15.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,912 shares of the oil and gas company’s stock after selling 338 shares during the period. Mathes Company Inc.’s holdings in Chevron were worth $277,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVX. NTV Asset Management LLC raised its position in Chevron by 8.8% during the fourth quarter. NTV Asset Management LLC now owns 28,145 shares of the oil and gas company’s stock worth $4,077,000 after acquiring an additional 2,286 shares during the last quarter. KLCM Advisors Inc. raised its position in shares of Chevron by 0.8% during the 4th quarter. KLCM Advisors Inc. now owns 27,179 shares of the oil and gas company’s stock worth $3,937,000 after purchasing an additional 224 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in Chevron by 1.2% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 17,487 shares of the oil and gas company’s stock valued at $2,533,000 after buying an additional 203 shares in the last quarter. Total Investment Management Inc. increased its position in Chevron by 4.2% during the fourth quarter. Total Investment Management Inc. now owns 2,595 shares of the oil and gas company’s stock worth $376,000 after buying an additional 104 shares in the last quarter. Finally, Americana Partners LLC raised its holdings in shares of Chevron by 179.4% in the fourth quarter. Americana Partners LLC now owns 253,221 shares of the oil and gas company’s stock worth $36,677,000 after acquiring an additional 162,577 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other 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 transaction of $1,422,062.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Down 0.4 %

Shares of NYSE:CVX opened at $155.32 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50-day simple moving average of $151.86 and a 200-day simple moving average of $150.80. 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 stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date 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 yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

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.