Fulton Bank N.A. Has $7.66 Million Stock Position in Chevron Co. (NYSE:CVX)

Fulton Bank N.A. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,878 shares of the oil and gas company’s stock after acquiring an additional 2,909 shares during the period. Fulton Bank N.A.’s holdings in Chevron were worth $7,659,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVX. Lantz Financial LLC boosted its position in Chevron by 2.7% during the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares during the period. Strategic Financial Concepts LLC grew its stake in Chevron by 4,325.4% in the 2nd 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. Acadian Asset Management LLC lifted its position in shares of Chevron by 594.0% during the second quarter. Acadian Asset Management LLC now owns 141,091 shares of the oil and gas company’s stock worth $22,062,000 after acquiring an additional 120,760 shares in the last quarter. Lane & Associates LLC boosted its holdings in shares of Chevron by 14.2% in the second quarter. Lane & Associates LLC now owns 2,495 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 310 shares during the period. Finally, LGT Fund Management Co Ltd. grew its position in shares of Chevron by 318.9% in the second quarter. LGT Fund Management Co Ltd. now owns 26,245 shares of the oil and gas company’s stock valued at $4,105,000 after purchasing an additional 19,980 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX traded up $0.44 during midday trading on Wednesday, hitting $150.03. The stock had a trading volume of 3,104,470 shares, compared to its average volume of 5,888,319. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 business has a fifty day moving average of $153.63 and a 200 day moving average of $151.10. The company has a market cap of $269.62 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during 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 firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 4.35%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVX shares. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.19.

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.