Arbor Trust Wealth Advisors LLC Sells 402 Shares of Chevron Co. (NYSE:CVX)

Arbor Trust Wealth Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,958 shares of the oil and gas company’s stock after selling 402 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Chevron were worth $2,167,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVX. Sei Investments Co. grew its stake in shares of Chevron by 8.5% in the second quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company’s stock worth $103,121,000 after purchasing an additional 51,564 shares during the last quarter. Kowal Investment Group LLC raised its holdings in shares of Chevron by 2.8% during the second quarter. Kowal Investment Group LLC now owns 11,250 shares of the oil and gas company’s stock valued at $1,760,000 after purchasing an additional 309 shares during the last quarter. Holderness Investments Co. boosted its holdings in shares of Chevron by 0.3% in the second quarter. Holderness Investments Co. now owns 25,128 shares of the oil and gas company’s stock worth $3,931,000 after buying an additional 77 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Chevron by 13,094.9% in the second quarter. Frank Rimerman Advisors LLC now owns 26,126 shares of the oil and gas company’s stock worth $4,087,000 after buying an additional 25,928 shares during the period. Finally, Greenline Partners LLC lifted its stake in shares of Chevron by 13.1% during the 2nd quarter. Greenline Partners LLC now owns 26,566 shares of the oil and gas company’s stock valued at $4,158,000 after buying an additional 3,075 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVX shares. Raymond James boosted their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

Chevron stock opened at $161.54 on Monday. The company has a 50-day moving average price of $153.93 and a 200 day moving average price of $151.05. The stock has a market cap of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

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, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Chevron Company 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.