Chevron Co. (NYSE:CVX) Shares Bought by White Pine Investment CO

White Pine Investment CO boosted its position in shares of Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 40,973 shares of the oil and gas company’s stock after acquiring an additional 1,560 shares during the quarter. Chevron comprises about 1.6% of White Pine Investment CO’s portfolio, making the stock its 27th largest position. White Pine Investment CO’s holdings in Chevron were worth $5,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVX. Mill Creek Capital Advisors LLC raised its stake in shares of Chevron by 3.2% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock valued at $659,000 after buying an additional 131 shares during the last quarter. Wescott Financial Advisory Group LLC raised its holdings in Chevron by 14.3% in the 2nd quarter. Wescott Financial Advisory Group LLC now owns 3,277 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 411 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Chevron during the second quarter worth approximately $57,992,000. Fred Alger Management LLC grew its holdings in Chevron by 7.4% in the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock valued at $10,022,000 after purchasing an additional 4,435 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in shares of Chevron in the second quarter valued at approximately $45,941,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.39 on Thursday. The business has a 50-day moving average of $154.09 and a 200 day moving average of $151.07. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market capitalization of $281.05 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Raymond James boosted their price target on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.