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

Bridge Creek Capital Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,720 shares of the oil and gas company’s stock after acquiring an additional 244 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Chevron were worth $3,436,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the third quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.87.

Chevron Trading Up 1.4 %

CVX stock traded up $2.10 during midday trading on Monday, hitting $155.24. The stock had a trading volume of 6,413,193 shares, compared to its average volume of 7,356,717. The firm has a market cap of $278.98 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. 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 business has a fifty day moving average price of $153.69 and a two-hundred day moving average price of $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 quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.