Chevron Co. (NYSE:CVX) Shares Bought by Ridgewood Investments LLC

Ridgewood Investments LLC raised its stake in Chevron Co. (NYSE:CVX) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,659 shares of the oil and gas company’s stock after purchasing an additional 230 shares during the period. Ridgewood Investments LLC’s holdings in Chevron were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CVX. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $2.37 on Friday, reaching $152.67. 4,487,023 shares of the company’s stock were exchanged, compared to its average volume of 6,385,081. The stock has a fifty day moving average of $153.68 and a 200-day moving average of $151.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $274.36 billion, a PE ratio of 16.78, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $48.86 billion. During the same quarter in the prior year, the company posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale 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.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Truist Financial lifted their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

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.