Rodgers Brothers Inc. Buys 768 Shares of Chevron Co. (NYSE:CVX)

Rodgers Brothers Inc. lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 51,805 shares of the oil and gas company’s stock after purchasing an additional 768 shares during the period. Chevron makes up approximately 1.0% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 26th biggest position. Rodgers Brothers Inc.’s holdings in Chevron were worth $7,503,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. United Bank increased its position in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Chevron during the 3rd quarter worth about $2,370,000. Cobblestone Capital Advisors LLC NY raised its stake in Chevron by 3.2% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 28,623 shares of the oil and gas company’s stock worth $4,215,000 after buying an additional 883 shares in the last quarter. Semmax Financial Advisors Inc. boosted its position in Chevron by 2.6% during the third quarter. Semmax Financial Advisors Inc. now owns 5,343 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 134 shares in the last quarter. Finally, Morton Community Bank raised its stake in shares of Chevron by 1.8% during the 3rd quarter. Morton Community Bank now owns 25,957 shares of the oil and gas company’s stock worth $3,823,000 after acquiring an additional 458 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Piper Sandler dropped their price objective 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. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James cut 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Shares of Chevron stock opened at $166.06 on Monday. The firm has a fifty day moving average price of $157.10 and a two-hundred day moving average price of $153.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $292.37 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 business posted $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Company 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.