Chevron Co. (NYSE:CVX) Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,122 shares of the oil and gas company's stock after purchasing an additional 16,123 shares during the period. Chevron makes up 0.9% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 21st largest holding. Parsons Capital Management Inc. RI's holdings in Chevron were worth $16,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Tacita Capital Inc raised its position 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 worth $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased its stake 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 worth $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC lifted its position in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC boosted its stake in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock worth $201,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

CVX traded down $0.42 on Wednesday, hitting $155.79. 5,628,990 shares of the company traded hands, compared to its average volume of 7,622,748. The company has a 50 day moving average of $153.67 and a 200-day moving average of $151.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $279.97 billion, a PE ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12. 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 (NYSE:CVX - Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $3.05 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is 71.65%.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Raymond James raised their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.27.

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.