Cutler Investment Counsel LLC Sells 809 Shares of Chevron Co. (NYSE:CVX)

Cutler Investment Counsel LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 66,375 shares of the oil and gas company’s stock after selling 809 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Chevron were worth $9,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. State Street Corp raised its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC raised its position in Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Franklin Resources Inc. lifted its stake in Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Chevron by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock worth $1,147,359,000 after acquiring an additional 138,496 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.4 %

Shares of NYSE:CVX opened at $155.32 on Monday. The stock has a market cap of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a 50 day moving average of $151.86 and a 200-day moving average of $150.80.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 period last year, the business earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

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

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.