Chevron Co. (NYSE:CVX) Stake Lifted by Davidson Trust Co.

Davidson Trust Co. raised its stake in Chevron Co. (NYSE:CVX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,106 shares of the oil and gas company’s stock after acquiring an additional 559 shares during the quarter. Chevron makes up 2.4% of Davidson Trust Co.’s holdings, making the stock its 5th biggest position. Davidson Trust Co.’s holdings in Chevron were worth $3,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. HTLF Bank purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $8,154,000. Lafayette Investments Inc. increased its holdings in Chevron by 2.2% during the 4th quarter. Lafayette Investments Inc. now owns 13,798 shares of the oil and gas company’s stock worth $2,058,000 after acquiring an additional 300 shares during the period. Opes Wealth Management LLC increased its holdings in Chevron by 29.4% during the 4th quarter. Opes Wealth Management LLC now owns 1,545 shares of the oil and gas company’s stock worth $230,000 after acquiring an additional 351 shares during the period. Fidelis Capital Partners LLC increased its holdings in Chevron by 24.2% during the 4th quarter. Fidelis Capital Partners LLC now owns 32,011 shares of the oil and gas company’s stock worth $4,775,000 after acquiring an additional 6,238 shares during the period. Finally, Western Wealth Management LLC increased its holdings in Chevron by 2.2% during the 4th quarter. Western Wealth Management LLC now owns 32,146 shares of the oil and gas company’s stock worth $4,795,000 after acquiring an additional 690 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock traded up $2.17 during trading on Friday, reaching $159.74. The company had a trading volume of 2,343,969 shares, compared to its average volume of 8,444,846. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The firm’s 50-day simple moving average is $155.26 and its 200 day simple moving average is $151.90. The firm has a market capitalization of $296.68 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Wells Fargo & Company boosted their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

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.