First Bank & Trust reduced its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,859 shares of the oil and gas company’s stock after selling 319 shares during the quarter. First Bank & Trust’s holdings in Chevron were worth $2,308,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Close Asset Management Ltd increased its holdings in shares of Chevron by 23.3% in the 4th quarter. Close Asset Management Ltd now owns 35,292 shares of the oil and gas company’s stock worth $6,336,000 after purchasing an additional 6,658 shares in the last quarter. Means Investment CO. Inc. boosted its position in shares of Chevron by 2.3% during the fourth quarter. Means Investment CO. Inc. now owns 69,295 shares of the oil and gas company’s stock valued at $12,438,000 after buying an additional 1,589 shares during the last quarter. Nordwand Advisors LLC bought a new stake in Chevron in the 4th quarter worth about $402,000. Successful Portfolios LLC raised its position in Chevron by 7.3% in the 4th quarter. Successful Portfolios LLC now owns 5,786 shares of the oil and gas company’s stock worth $1,039,000 after buying an additional 396 shares during the last quarter. Finally, Gratus Capital LLC raised its position in Chevron by 2.0% in the 4th quarter. Gratus Capital LLC now owns 12,898 shares of the oil and gas company’s stock worth $2,315,000 after buying an additional 247 shares during the last quarter. 69.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on CVX. Truist Financial lifted their price target on shares of Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a research note on Tuesday, January 31st. Piper Sandler decreased their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Barclays increased their price target on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Mizuho reaffirmed a “neutral” rating and issued a $206.00 price objective on shares of Chevron in a report on Friday, March 17th. Finally, Cowen lowered their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $189.76.
Chevron Trading Up 0.4 %
Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm had revenue of $56.47 billion during the quarter, compared to analysts’ expectations of $53.97 billion. During the same period last year, the company earned $2.56 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 14.56 earnings per share for the current year.
Chevron Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a yield of 3.59%. Chevron’s dividend payout ratio (DPR) is currently 33.04%.
Chevron announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity
In related news, VP Rhonda J. Morris sold 19,666 shares of the stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the sale, the vice president now owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
Featured Stories
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- This Is Why Penny Stock GreenPower Motor Company Is A Win
- Comcast Sum of All Parts is Producing a Cumulative Effect
- The Greenbrier Companies: All Aboard For High-Yield In 2023
- Coty Stock is on the Comeback Trail
- Is Halliburton Stock a Value or a Value Trap?
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Get Rating).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
