Chevron Co. (NYSE:CVX) Shares Bought by Maple Capital Management Inc.

Maple Capital Management Inc. grew its stake in Chevron Co. (NYSE:CVX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,623 shares of the oil and gas company’s stock after buying an additional 4,307 shares during the quarter. Chevron accounts for about 1.7% of Maple Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Maple Capital Management Inc.’s holdings in Chevron were worth $22,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the fourth quarter worth about $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.2 %

Chevron stock opened at $158.59 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock 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. The stock has a 50 day moving average of $153.14 and a two-hundred day moving average of $151.44. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 period in the previous year, the company earned $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group cut their price target 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. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company 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.