Trust Point Inc. Purchases 2,682 Shares of Chevron Co. (NYSE:CVX)

Trust Point Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 16.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,805 shares of the oil and gas company’s stock after acquiring an additional 2,682 shares during the quarter. Trust Point Inc.’s holdings in Chevron were worth $2,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CVX. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter valued at 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 acquired a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth about $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.1 %

CVX stock opened at $149.39 on Tuesday. The company has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. 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 company has a fifty day moving average price of $153.19 and a 200 day moving average price of $151.02. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.60.

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.