Dudley Capital Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Dudley Capital Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 0.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,920 shares of the oil and gas company’s stock after buying an additional 388 shares during the period. Chevron accounts for about 3.2% of Dudley Capital Management LLC’s holdings, making the stock its 5th largest holding. Dudley Capital Management LLC’s holdings in Chevron were worth $6,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. United Bank increased its position in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares during the period. Douglass Winthrop Advisors LLC lifted its position in shares of Chevron by 4.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company’s stock worth $3,963,000 after purchasing an additional 1,233 shares during the last quarter. Concentric Wealth Management LLC lifted its stake in Chevron by 3.1% in the third quarter. Concentric Wealth Management LLC now owns 36,489 shares of the oil and gas company’s stock worth $5,374,000 after acquiring an additional 1,086 shares during the period. Finally, Bedell Frazier Investment Counselling LLC boosted its position in Chevron by 3.6% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 13,276 shares of the oil and gas company’s stock valued at $1,955,000 after acquiring an additional 466 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.2 %

Shares of Chevron stock opened at $165.10 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a fifty day moving average price of $156.49 and a 200 day moving average price of $152.81. The stock has a market cap of $290.68 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 70.37%.

Analyst Ratings Changes

Several research firms recently issued reports on CVX. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock 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 company. Based on 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 at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by corporate 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.