CoreFirst Bank & Trust Takes Position in Chevron Co. (NYSE:CVX)

CoreFirst Bank & Trust acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,060 shares of the oil and gas company’s stock, valued at approximately $1,892,000. Chevron comprises 1.1% of CoreFirst Bank & Trust’s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. United Bank boosted its stake in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares during the last quarter. Truepoint Inc. acquired a new position in Chevron in the third quarter valued at approximately $203,000. StoneX Group Inc. boosted its position in Chevron by 9.8% in the 3rd quarter. StoneX Group Inc. now owns 39,962 shares of the oil and gas company’s stock worth $5,885,000 after purchasing an additional 3,576 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its stake in shares of Chevron by 44.9% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 17,122 shares of the oil and gas company’s stock worth $2,522,000 after purchasing an additional 5,302 shares during the period. Finally, Managed Asset Portfolios LLC increased its holdings in shares of Chevron by 2.6% during the 3rd quarter. Managed Asset Portfolios LLC now owns 126,767 shares of the oil and gas company’s stock valued at $18,669,000 after purchasing an additional 3,231 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four investment 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 an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Down 0.2 %

Shares of Chevron stock opened at $164.37 on Monday. The company’s fifty day moving average is $156.29 and its two-hundred day moving average is $152.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $289.39 billion, a P/E ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 EPS. Analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Chevron 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.