Morton Community Bank Has $3.82 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Morton Community Bank boosted its stake in Chevron Co. (NYSE:CVX) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,352 shares of the oil and gas company’s stock after buying an additional 395 shares during the period. Morton Community Bank’s holdings in Chevron were worth $3,817,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 2.3 %

CVX opened at $156.48 on Monday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 has a fifty day moving average of $154.08 and a 200-day moving average of $151.78. The stock has a market cap of $275.51 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 earned $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.