Elgethun Capital Management Has $953,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Elgethun Capital Management boosted its stake in Chevron Co. (NYSE:CVX) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,580 shares of the oil and gas company’s stock after buying an additional 389 shares during the period. Elgethun Capital Management’s holdings in Chevron were worth $953,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CVX. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC grew its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $143.10 on Monday. The stock’s 50-day moving average is $157.38 and its 200-day moving average is $154.25. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $251.95 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.