Princeton Capital Management LLC Purchases 114 Shares of Chevron Co. (NYSE:CVX)

Princeton Capital Management LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,732 shares of the oil and gas company’s stock after acquiring an additional 114 shares during the period. Princeton Capital Management LLC’s holdings in Chevron were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Life Planning Partners Inc purchased a new stake in shares of Chevron during the 4th quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth about $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.2 %

CVX stock opened at $165.10 on Tuesday. The stock has a market capitalization of $290.68 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 firm has a 50 day moving average of $156.49 and a 200 day moving average of $152.81.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the business earned $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.14%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 owns 1,057 shares in the company, valued at $161,192.50. This 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 through the SEC website. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, 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 research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

About Chevron

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.