Chevron Co. (NYSE:CVX) Shares Purchased by First International Bank & Trust

First International Bank & Trust raised its holdings in Chevron Co. (NYSE:CVX) by 50.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,162 shares of the oil and gas company’s stock after acquiring an additional 1,066 shares during the quarter. First International Bank & Trust’s holdings in Chevron were worth $458,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Marietta Wealth Management LLC increased its position in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC increased its holdings in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Finally, State Street Corp grew its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.2 %

CVX stock opened at $149.88 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market cap of $269.35 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.93 and a beta of 1.12. 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 business has a fifty day simple moving average of $153.68 and a 200-day simple moving average of $151.08.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial lifted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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 represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

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.