Prossimo Advisors LLC Purchases 73 Shares of Chevron Co. (NYSE:CVX)

Prossimo Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,556 shares of the oil and gas company’s stock after acquiring an additional 73 shares during the quarter. Prossimo Advisors LLC’s holdings in Chevron were worth $805,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Tacita Capital Inc lifted its stake in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. raised its holdings in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares in the last quarter. TFB Advisors LLC lifted its position in shares of 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 buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. boosted its stake in shares of 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 worth $677,000 after acquiring an additional 66 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Chevron by 0.7% during the 3rd 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 during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

NYSE CVX opened at $156.23 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 stock has a market cap of $280.76 billion, a P/E ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The company’s 50-day simple moving average is $151.80 and its 200 day simple moving average is $150.81.

Chevron (NYSE:CVX) last released 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. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.