Pettee Investors Inc. Has $2.44 Million Holdings in Chevron Co. (NYSE:CVX)

Pettee Investors Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,826 shares of the oil and gas company’s stock after selling 68 shares during the quarter. Chevron makes up 1.2% of Pettee Investors Inc.’s holdings, making the stock its 26th biggest position. Pettee Investors Inc.’s holdings in Chevron were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.48 on Friday. The company’s 50 day moving average price is $154.08 and its two-hundred day moving average price is $151.73. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $275.51 billion, a PE ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. 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) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 last year, the business posted $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler cut 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. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred 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 owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.