Chevron Co. (NYSE:CVX) Shares Purchased by Patten Group Inc.

Patten Group Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,389 shares of the oil and gas company’s stock after purchasing an additional 144 shares during the quarter. Chevron makes up approximately 0.8% of Patten Group Inc.’s holdings, making the stock its 25th largest holding. Patten Group Inc.’s holdings in Chevron were worth $3,533,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Truist Financial dropped 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. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Down 3.5 %

Shares of NYSE:CVX opened at $153.05 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 firm has a market cap of $269.46 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a fifty day simple moving average of $153.35 and a 200 day simple moving average of $151.58.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm posted $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued 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 4.47%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.