Bridge Creek Capital Management LLC Purchases 244 Shares of Chevron Co. (NYSE:CVX)

Bridge Creek Capital Management LLC grew its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,720 shares of the oil and gas company’s stock after purchasing an additional 244 shares during the period. Bridge Creek Capital Management LLC’s holdings in Chevron were worth $3,436,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CVX. Truist Financial increased their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Price Performance

CVX traded up $2.10 during trading on Monday, hitting $155.24. 6,413,193 shares of the company traded hands, compared to its average volume of 7,356,717. 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 company has a market cap of $278.98 billion, a PE ratio of 17.06, a P/E/G ratio of 2.93 and a beta of 1.12. The stock’s 50-day simple moving average is $153.69 and its two-hundred day simple moving average is $150.95. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Company 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.