Tufton Capital Management Has $10.15 Million Holdings in Chevron Co. (NYSE:CVX)

Tufton Capital Management lessened its holdings in Chevron Co. (NYSE:CVX) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,065 shares of the oil and gas company’s stock after selling 206 shares during the period. Chevron comprises 1.9% of Tufton Capital Management’s investment portfolio, making the stock its 15th biggest holding. Tufton Capital Management’s holdings in Chevron were worth $10,148,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter worth about $25,000. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Truist Financial reduced 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. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.57 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $281.36 billion, a PE ratio of 16.11, a P/E/G ratio of 1.46 and a beta of 1.11. The company’s 50 day simple moving average is $152.83 and its two-hundred day simple moving average is $151.34.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 in the previous year, the firm posted $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.