Putney Financial Group LLC Purchases Shares of 2,643 Chevron Co. (NYSE:CVX)

Putney Financial Group LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,643 shares of the oil and gas company's stock, valued at approximately $383,000.

Other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter valued at $33,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

NYSE:CVX traded down $1.78 during trading hours on Wednesday, hitting $136.05. 6,857,337 shares of the company's stock traded hands, compared to its average volume of 8,077,871. The firm has a market cap of $237.60 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The business's fifty day simple moving average is $143.58 and its two-hundred day simple moving average is $150.94. 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 - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the business posted $2.93 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. Chevron's payout ratio is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $160.24.

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.