SFE Investment Counsel Has $2.46 Million Holdings in Chevron Co. (NYSE:CVX)

SFE Investment Counsel reduced its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,980 shares of the oil and gas company’s stock after selling 535 shares during the quarter. SFE Investment Counsel’s holdings in Chevron were worth $2,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tacita Capital Inc boosted its stake in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares in the last quarter. Wallace Capital Management Inc. lifted its holdings in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares during the period. TFB Advisors LLC boosted its position in Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares in the last quarter. Cyndeo Wealth Partners LLC raised its position in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $154.91 on Thursday. The firm has a market capitalization of $278.39 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.39 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. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a fifty day simple moving average of $151.92 and a 200-day simple moving average of $150.84.

Chevron (NYSE:CVX) last posted 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal 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 given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s payout ratio is currently 67.08%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. 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 currently owned by company insiders.

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.