Piscataqua Savings Bank Trims Position in Chevron Co. (NYSE:CVX)

Piscataqua Savings Bank decreased its holdings in Chevron Co. (NYSE:CVX) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,259 shares of the oil and gas company’s stock after selling 121 shares during the quarter. Chevron comprises approximately 1.4% of Piscataqua Savings Bank’s portfolio, making the stock its 17th biggest position. Piscataqua Savings Bank’s holdings in Chevron were worth $1,631,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Tacita Capital Inc lifted its position in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. raised its stake in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares during the period. S.A. Mason LLC boosted its position in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC grew its holdings in shares of Chevron by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 in the company, 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 SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Trading Up 1.0 %

NYSE:CVX opened at $157.20 on Tuesday. The stock has a market cap of $282.50 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $153.81 and its 200-day moving average price is $151.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.27.

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.