Chevron Co. (NYSE:CVX) is Tufton Capital Management’s 10th Largest Position

Tufton Capital Management lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,461 shares of the oil and gas company’s stock after selling 2,934 shares during the period. Chevron makes up 2.1% of Tufton Capital Management’s holdings, making the stock its 10th biggest position. Tufton Capital Management’s holdings in Chevron were worth $10,063,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter valued at $33,000. Worth Asset Management LLC acquired a new stake in Chevron during the first quarter valued at $36,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron during the third quarter valued at $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CVX shares. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Price Performance

CVX stock traded up $1.41 during mid-day trading on Thursday, reaching $157.81. The company’s stock had a trading volume of 1,337,851 shares, compared to its average volume of 8,478,950. The stock has a market cap of $293.10 billion, a PE ratio of 13.89, a P/E/G ratio of 2.30 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The company’s 50 day moving average is $155.19 and its two-hundred day moving average is $151.86.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.09 EPS. Equities research analysts expect that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. Chevron’s dividend payout ratio is 57.39%.

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.