Bay Capital Advisors LLC Purchases Shares of 2,120 Chevron Co. (NYSE:CVX)

Bay Capital Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,120 shares of the oil and gas company's stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Wallace Capital Management Inc. raised its position in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC increased its stake in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. raised its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after acquiring an additional 66 shares in the last quarter. Finally, Meridian Financial Partners LLC lifted its stake in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.

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Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

Chevron Stock Up 0.6 %

Shares of CVX stock traded up $0.91 during trading hours on Tuesday, reaching $165.93. 7,867,285 shares of the company's stock were exchanged, compared to its average volume of 7,343,123. Chevron Co. has a 1 year low of $135.37 and a 1 year 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 stock has a market cap of $292.14 billion, a PE ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The stock's fifty day moving average price is $156.67 and its two-hundred day moving average price is $153.01.

Chevron (NYSE:CVX - Get Free Report) last released 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 previous year, the company posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James reduced their price target 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. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

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.