Canandaigua National Trust Co of Florida Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Canandaigua National Trust Co of Florida increased its stake in shares of Chevron Co. (NYSE:CVX) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,415 shares of the oil and gas company’s stock after purchasing an additional 500 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Chevron were worth $495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lantz Financial LLC lifted its stake in Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after acquiring an additional 623 shares during the last quarter. Umpqua Bank increased its holdings in Chevron by 5.7% in the second quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock valued at $3,101,000 after buying an additional 1,078 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Chevron by 4,325.4% in the second quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Chevron during the 2nd quarter worth about $76,000. Finally, Delta Financial Advisors LLC raised its position in shares of Chevron by 32.1% during the 2nd quarter. Delta Financial Advisors LLC now owns 20,231 shares of the oil and gas company’s stock worth $3,165,000 after acquiring an additional 4,921 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock traded down $0.75 during trading hours on Monday, reaching $147.10. 5,849,564 shares of the company’s stock were exchanged, compared to its average volume of 5,926,819. 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’s 50 day moving average is $153.67 and its two-hundred day moving average is $151.21. The company has a market cap of $264.35 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released 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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.19.

About Chevron

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.