Chevron Co. (NYSE:CVX) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in Chevron Co. (NYSE:CVX) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,552 shares of the oil and gas company’s stock after selling 2,281 shares during the period. Bridges Investment Management Inc.’s holdings in Chevron were worth $21,516,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CVX. Hickory Point Bank & Trust acquired a new stake in shares of Chevron in the 4th quarter valued at about $1,098,000. Purkiss Capital Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $469,000. PCG Asset Management LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $583,000. Duncker Streett & Co. Inc. grew its position in shares of Chevron by 0.7% during the fourth quarter. Duncker Streett & Co. Inc. now owns 21,451 shares of the oil and gas company’s stock worth $3,107,000 after acquiring an additional 146 shares during the last quarter. Finally, Sharkey Howes & Javer increased its holdings in shares of Chevron by 78.0% in the 4th quarter. Sharkey Howes & Javer now owns 2,482 shares of the oil and gas company’s stock valued at $360,000 after acquiring an additional 1,088 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $158.59 on Friday. 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 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50-day simple moving average of $153.14 and a 200-day simple moving average of $151.49. The company has a market capitalization of $279.21 billion, a PE ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last issued 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 period last year, the firm earned $3.45 EPS. Equities 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 declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend 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 dividend yield of 4.31%. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Raymond James decreased their price target 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. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.