Rossby Financial LCC Takes $477,000 Position in Chevron Co. (NYSE:CVX)

Rossby Financial LCC bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,293 shares of the oil and gas company's stock, valued at approximately $477,000.

A number of other institutional investors have also recently bought and sold shares of CVX. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on 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 sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVX shares. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Scotiabank lowered 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. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $172.20.

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Chevron Stock Performance

Shares of Chevron stock opened at $135.14 on Tuesday. The firm has a fifty day moving average of $154.99 and a two-hundred day moving average of $153.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $237.93 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company posted $3.45 earnings per share. As a group, equities 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. Investors of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.06%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

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.

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