Cutter & CO Brokerage Inc. Sells 1,125 Shares of Chevron Co. (NYSE:CVX)

Cutter & CO Brokerage Inc. cut its position in shares of Chevron Co. (NYSE:CVX) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,225 shares of the oil and gas company’s stock after selling 1,125 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Chevron were worth $3,017,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management purchased a new stake in Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at $33,000. Legacy Financial Group LLC purchased a new position in Chevron during the third quarter valued at $43,000. Finally, Roble Belko & Company Inc lifted its holdings in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of CVX traded up $0.93 during midday trading on Tuesday, hitting $162.85. The company’s stock had a trading volume of 5,533,624 shares, compared to its average volume of 8,459,302. The stock has a market capitalization of $302.46 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $155.63 and its two-hundred day simple moving average is $151.66.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.09 EPS. As a group, equities analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.00%. Chevron’s dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company increased their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron 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.