Putney Financial Group LLC Invests $383,000 in 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 the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,643 shares of the oil and gas company's stock, valued at approximately $383,000.

Several other institutional investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the period. Finally, Navigoe LLC purchased a new position in Chevron in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent analyst reports. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Chevron stock traded up $1.16 during trading hours on Thursday, hitting $137.18. 4,077,309 shares of the company traded hands, compared to its average volume of 8,067,319. The firm has a market cap of $239.56 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.46 and a beta of 0.83. 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 firm's 50-day simple moving average is $143.01 and its two-hundred day simple moving average is $150.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

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 firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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 dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.99%. Chevron's payout ratio is 78.17%.

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.