Pring Turner Capital Group Inc. Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Pring Turner Capital Group Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,987 shares of the oil and gas company’s stock after selling 233 shares during the quarter. Chevron comprises approximately 2.4% of Pring Turner Capital Group Inc.’s holdings, making the stock its 21st largest position. Pring Turner Capital Group Inc.’s holdings in Chevron were worth $3,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. BankPlus Trust Department bought a new stake in Chevron in the fourth quarter worth $361,000. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of Chevron by 4.5% during the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 30,915 shares of the oil and gas company’s stock valued at $4,478,000 after acquiring an additional 1,324 shares in the last quarter. Edge Capital Group LLC raised its position in shares of Chevron by 4.0% in the 4th quarter. Edge Capital Group LLC now owns 69,191 shares of the oil and gas company’s stock worth $10,022,000 after purchasing an additional 2,689 shares during the last quarter. Rothschild Investment LLC boosted its stake in Chevron by 0.4% in the 4th quarter. Rothschild Investment LLC now owns 134,483 shares of the oil and gas company’s stock worth $19,478,000 after purchasing an additional 536 shares in the last quarter. Finally, Wealthstream Advisors Inc. grew its position in Chevron by 4.4% during the 4th quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.6 %

Chevron stock opened at $157.85 on Tuesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market cap of $283.68 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $152.14 and a two-hundred day simple moving average of $151.20.

Chevron (NYSE:CVX) last announced its earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.33%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. 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 report on Wednesday, February 5th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.