Chevron Co. (NYSE:CVX) Stock Position Increased by Rodgers Brothers Inc.

Rodgers Brothers Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,805 shares of the oil and gas company’s stock after buying an additional 768 shares during the quarter. Chevron accounts for about 1.0% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 26th largest position. Rodgers Brothers Inc.’s holdings in Chevron were worth $7,503,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CVX. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp increased its position in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi raised its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. Finally, State Street Corp raised its position in shares of Chevron by 0.6% during the third 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 buying an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group decreased 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. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler dropped their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’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 transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $166.06 on Monday. The stock has a fifty day simple moving average of $157.10 and a two-hundred day simple moving average of $153.60. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The firm has a market cap of $292.37 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 company earned $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s dividend payout ratio is 70.37%.

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.