Chevron Co. (NYSE:CVX) Position Reduced by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its position in Chevron Co. (NYSE:CVX) by 51.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,773 shares of the oil and gas company’s stock after selling 102,793 shares during the quarter. Flputnam Investment Management Co.’s holdings in Chevron were worth $13,872,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Waterway Wealth Management LLC grew its position in Chevron by 8.5% during the 4th quarter. Waterway Wealth Management LLC now owns 7,680 shares of the oil and gas company’s stock worth $1,112,000 after purchasing an additional 603 shares in the last quarter. Pettyjohn Wood & White Inc. grew its holdings in shares of Chevron by 0.8% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 50,205 shares of the oil and gas company’s stock valued at $7,272,000 after buying an additional 393 shares in the last quarter. Hosking Partners LLP grew its holdings in shares of Chevron by 34.5% during the fourth quarter. Hosking Partners LLP now owns 39,206 shares of the oil and gas company’s stock valued at $5,679,000 after buying an additional 10,054 shares in the last quarter. Fielder Capital Group LLC raised its position in Chevron by 0.6% during the fourth quarter. Fielder Capital Group LLC now owns 17,266 shares of the oil and gas company’s stock valued at $2,501,000 after buying an additional 95 shares during the period. Finally, Private Capital Management LLC lifted its stake in Chevron by 3.5% in the 3rd quarter. Private Capital Management LLC now owns 18,588 shares of the oil and gas company’s stock worth $2,737,000 after acquiring an additional 625 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.2 %

Shares of CVX stock opened at $158.59 on Friday. The stock’s 50 day simple moving average is $153.14 and its 200 day simple moving average is $151.44. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 company has a market capitalization of $285.00 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly 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 quarter in the prior year, the business posted $3.45 earnings per share. As a group, research analysts predict 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 given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. Chevron’s payout ratio is currently 70.37%.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock 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 on the stock in a research note on Tuesday, November 5th. Four equities 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 currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.