Hutchinson Capital Management CA Sells 494 Shares of Chevron Co. (NYSE:CVX)

Hutchinson Capital Management CA decreased its holdings in Chevron Co. (NYSE:CVX) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,511 shares of the oil and gas company’s stock after selling 494 shares during the quarter. Hutchinson Capital Management CA’s holdings in Chevron were worth $2,971,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wallace Capital Management Inc. grew its stake in shares of Chevron by 0.8% in the third 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 last quarter. TFB Advisors LLC grew its stake 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 purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. grew its stake in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its stake in shares of Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Truist Financial dropped their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, 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 report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 2.3 %

CVX opened at $157.10 on Friday. 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 fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $276.59 billion, a PE ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. The company’s 50-day moving average is $155.03 and its 200 day moving average is $152.02.

Chevron (NYSE:CVX) last posted its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.