Mcrae Capital Management Inc. Has $648,000 Stock Position in Chevron Co. (NYSE:CVX)

Mcrae Capital Management Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,343 shares of the oil and gas company’s stock after selling 80 shares during the period. Mcrae Capital Management Inc.’s holdings in Chevron were worth $648,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Addison Capital Co increased its stake in Chevron by 1.9% in the second quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 63 shares in the last quarter. NCM Capital Management LLC grew its holdings in shares of Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after buying an additional 65 shares during the last quarter. Sweet Financial Partners LLC grew its holdings in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI grew its holdings in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares during the last quarter. Finally, Alera Investment Advisors LLC grew its holdings in shares of Chevron by 1.0% during the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $159.82 on Wednesday. The company’s 50 day moving average is $152.56 and its 200-day moving average is $152.41. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $296.83 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Piper Sandler reduced their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

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.