Chevron Co. (NYSE:CVX) Stock Position Decreased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in shares of Chevron Co. (NYSE:CVX) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,462 shares of the oil and gas company’s stock after selling 18,006 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Chevron were worth $13,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter valued at about $31,000. Finally, Krane Funds Advisors LLC purchased a new position in Chevron in the third quarter valued at about $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVX shares. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group upped their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Raymond James boosted their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Down 0.3 %

Shares of CVX opened at $155.62 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $151.14.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 earnings per share. Research analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio is currently 71.65%.

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.