Townsquare Capital LLC Has $39.47 Million Position in Chevron Co. (NYSE:CVX)

Townsquare Capital LLC increased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 272,527 shares of the oil and gas company's stock after buying an additional 26,529 shares during the quarter. Townsquare Capital LLC's holdings in Chevron were worth $39,473,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TFB Advisors LLC raised its holdings in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its stake in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares in the last quarter. Meridian Financial Partners LLC raised its stake in Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock valued at $1,943,000 after buying an additional 67 shares during the last quarter. Finally, Western Pacific Wealth Management LP lifted its holdings in Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were 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 of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.77 on Tuesday, reaching $134.55. 9,311,565 shares of the company's stock were exchanged, compared to its average volume of 7,891,368. The firm has a market capitalization of $236.88 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 business's 50-day moving average is $154.99 and its two-hundred day moving average is $153.82.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 company earned $3.45 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared 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. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday. Wells Fargo & Company lowered their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average target price of $169.50.

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.