Webster Bank N. A. Purchases 1,563 Shares of Chevron Co. (NYSE:CVX)

Webster Bank N. A. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,355 shares of the oil and gas company’s stock after buying an additional 1,563 shares during the quarter. Webster Bank N. A.’s holdings in Chevron were worth $3,842,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caxton Associates LP purchased a new stake in Chevron during the third quarter valued at about $207,000. United Services Automobile Association lifted its holdings in Chevron by 13.9% during the third quarter. United Services Automobile Association now owns 48,859 shares of the oil and gas company’s stock valued at $8,239,000 after purchasing an additional 5,968 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Chevron by 6.0% during the third quarter. Hodges Capital Management Inc. now owns 7,855 shares of the oil and gas company’s stock valued at $1,325,000 after purchasing an additional 445 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Chevron by 7.6% during the third quarter. Lazard Asset Management LLC now owns 5,182,317 shares of the oil and gas company’s stock valued at $873,841,000 after purchasing an additional 364,969 shares during the last quarter. Finally, Kidder Stephen W lifted its holdings in Chevron by 10.9% during the third quarter. Kidder Stephen W now owns 30,892 shares of the oil and gas company’s stock valued at $5,209,000 after purchasing an additional 3,046 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last quarter. 0.20% of the stock is owned by insiders.

Chevron Stock Up 0.1 %

Chevron stock traded up $0.10 on Friday, hitting $156.42. 11,283,390 shares of the stock traded hands, compared to its average volume of 7,477,035. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market cap of $288.28 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The business’s fifty day simple moving average is $159.22 and its 200 day simple moving average is $154.62. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

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.