Bridgeway Capital Management LLC Has $18.58 Million Stake in Chevron Co. (NYSE:CVX)

Bridgeway Capital Management LLC increased its position in Chevron Co. (NYSE:CVX - Free Report) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,262 shares of the oil and gas company's stock after buying an additional 7,021 shares during the period. Bridgeway Capital Management LLC's holdings in Chevron were worth $18,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brooks Moore & Associates Inc. lifted its holdings in Chevron by 0.5% during the 4th quarter. Brooks Moore & Associates Inc. now owns 32,857 shares of the oil and gas company's stock valued at $4,759,000 after buying an additional 169 shares in the last quarter. Blue Capital Inc. purchased a new stake in Chevron in the fourth quarter valued at $690,000. Bulltick Wealth Management LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $1,997,000. Cahill Financial Advisors Inc. raised its holdings in Chevron by 40.9% in the 4th quarter. Cahill Financial Advisors Inc. now owns 2,808 shares of the oil and gas company's stock worth $407,000 after purchasing an additional 815 shares during the period. Finally, Captrust Financial Advisors raised its position in Chevron by 6.9% during the fourth quarter. Captrust Financial Advisors now owns 1,158,508 shares of the oil and gas company's stock worth $167,798,000 after acquiring an additional 74,495 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Price Performance

NYSE:CVX traded up $0.13 during trading hours on Wednesday, reaching $135.73. The company had a trading volume of 8,420,168 shares, compared to its average volume of 7,988,226. The stock has a 50-day moving average of $148.49 and a two-hundred day moving average of $152.23. 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 Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $238.97 billion, a PE ratio of 13.96, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.93 EPS. Analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Raymond James reduced their price target 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. Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Truist Financial reduced 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $161.25.

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.