Simmons Bank Has $14.02 Million Holdings in Chevron Co. (NYSE:CVX)

Simmons Bank increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 93,978 shares of the oil and gas company’s stock after acquiring an additional 1,647 shares during the quarter. Chevron comprises about 1.1% of Simmons Bank’s holdings, making the stock its 15th largest position. Simmons Bank’s holdings in Chevron were worth $14,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Strategic Investment Advisors MI increased its holdings in Chevron by 3.8% in the 3rd 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 period. Regent Peak Wealth Advisors LLC lifted its stake in Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 68 shares in the last quarter. Investment Partners LTD. raised its holdings in shares of Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 68 shares in the last quarter. Finally, ACT Wealth Management LLC boosted its stake in Chevron by 1.7% in the fourth quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,247 shares of company stock worth $2,154,164. Company insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.2 %

Shares of CVX stock traded down $0.29 during mid-day trading on Wednesday, hitting $162.38. The company’s stock had a trading volume of 4,179,491 shares, compared to its average volume of 8,415,690. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The business has a 50-day moving average price of $157.62 and a 200 day moving average price of $151.45. The stock has a market cap of $299.92 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the business posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts predict that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

About Chevron

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.