VeraBank N.A. Sells 102 Shares of Chevron Co. (NYSE:CVX)

VeraBank N.A. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 21,576 shares of the oil and gas company’s stock after selling 102 shares during the quarter. Chevron accounts for 0.9% of VeraBank N.A.’s holdings, making the stock its 25th biggest holding. VeraBank N.A.’s holdings in Chevron were worth $3,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. MN Wealth Advisors LLC raised its stake in shares of Chevron by 369.9% during the fourth quarter. MN Wealth Advisors LLC now owns 2,669 shares of the oil and gas company’s stock valued at $391,000 after acquiring an additional 2,101 shares in the last quarter. Secured Retirement Advisors LLC increased its holdings in Chevron by 8.8% during the 4th quarter. Secured Retirement Advisors LLC now owns 14,480 shares of the oil and gas company’s stock worth $2,097,000 after purchasing an additional 1,176 shares during the period. Strategic Financial Concepts LLC raised its position in Chevron by 212.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock valued at $775,000 after purchasing an additional 3,639 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Chevron by 31.0% in the 4th quarter. Allworth Financial LP now owns 339,868 shares of the oil and gas company’s stock worth $53,159,000 after buying an additional 80,428 shares during the period. Finally, Principal Securities Inc. grew its position in shares of Chevron by 11.2% during the 4th quarter. Principal Securities Inc. now owns 51,630 shares of the oil and gas company’s stock worth $7,478,000 after buying an additional 5,202 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVX. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Down 0.4 %

NYSE CVX opened at $155.32 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a fifty day simple moving average of $151.86 and a two-hundred day simple moving average of $150.86. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last issued 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 period in the previous year, the business posted $3.45 earnings per share. On average, analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.