Bradley Foster & Sargent Inc. CT Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Bradley Foster & Sargent Inc. CT lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,373 shares of the oil and gas company’s stock after selling 847 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Chevron were worth $47,706,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter valued at $29,000. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Finally, 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 research report on Tuesday, November 26th. 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 an average price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $158.89 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s fifty day moving average is $151.91 and its two-hundred day moving average is $150.91. The stock has a market capitalization of $285.53 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business posted $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced 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. 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 payout ratio is 70.37%.

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.