Iowa State Bank Sells 814 Shares of Chevron Co. (NYSE:CVX)

Iowa State Bank lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,118 shares of the oil and gas company’s stock after selling 814 shares during the period. Chevron makes up 1.3% of Iowa State Bank’s portfolio, making the stock its 25th biggest position. Iowa State Bank’s holdings in Chevron were worth $6,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bard Financial Services Inc. lifted its position in Chevron by 0.3% during the 4th quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock worth $9,087,000 after buying an additional 200 shares in the last quarter. Neville Rodie & Shaw Inc. grew its stake in Chevron by 2.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company’s stock valued at $9,039,000 after buying an additional 1,767 shares during the last quarter. First City Capital Management Inc. lifted its holdings in Chevron by 2.6% during the 4th quarter. First City Capital Management Inc. now owns 19,034 shares of the oil and gas company’s stock worth $2,757,000 after purchasing an additional 485 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Chevron by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 15,008 shares of the oil and gas company’s stock worth $2,174,000 after buying an additional 1,521 shares in the last quarter. Finally, Modus Advisors LLC boosted its holdings in Chevron by 3.5% in the 4th quarter. Modus Advisors LLC now owns 19,043 shares of the oil and gas company’s stock valued at $2,758,000 after purchasing an additional 637 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.4 %

NYSE CVX traded up $0.53 on Monday, hitting $148.38. The company’s stock had a trading volume of 3,222,803 shares, compared to its average volume of 5,338,307. The company’s 50-day simple moving average is $153.67 and its 200 day simple moving average is $151.21. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $266.65 billion, a P/E ratio of 16.31, a PEG ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.05 EPS. Research analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 4.39%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

Several research firms have commented on CVX. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Truist Financial upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.19.

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.