Bruce G. Allen Investments LLC Has $463,000 Position in Chevron Co. (NYSE:CVX)

Bruce G. Allen Investments LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 3,197 shares of the oil and gas company’s stock after selling 143 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Chevron were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. boosted its stake in Chevron by 0.8% in the 3rd 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 in the last quarter. Cyndeo Wealth Partners LLC increased its stake in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC raised its holdings in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC boosted its position in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.60.

Chevron Price Performance

CVX traded up $2.52 during trading on Friday, hitting $152.82. 8,361,553 shares of the company traded hands, compared to its average volume of 6,970,593. 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 company has a market cap of $274.63 billion, a PE ratio of 16.79, a P/E/G ratio of 2.93 and a beta of 1.12. The stock’s 50-day simple moving average is $153.68 and its two-hundred day simple moving average is $151.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.27%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.