Trust Co. of Toledo NA OH Sells 236 Shares of Chevron Co. (NYSE:CVX)

Trust Co. of Toledo NA OH reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,892 shares of the oil and gas company’s stock after selling 236 shares during the period. Chevron makes up 1.4% of Trust Co. of Toledo NA OH’s holdings, making the stock its 12th largest position. Trust Co. of Toledo NA OH’s holdings in Chevron were worth $10,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth about $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the second 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 last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.8 %

CVX stock traded up $2.81 during trading on Monday, reaching $155.95. 3,138,961 shares of the stock were exchanged, compared to its average volume of 6,871,154. 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 firm has a market capitalization of $280.26 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 2.93 and a beta of 1.12. The business has a 50 day moving average price of $153.69 and a 200-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 earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same quarter in the prior year, the company posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock 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. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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 $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

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.