Rockland Trust Co. Has $4.56 Million Stake in Chevron Co. (NYSE:CVX)

Rockland Trust Co. reduced its stake in Chevron Co. (NYSE:CVX) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,479 shares of the oil and gas company’s stock after selling 3,331 shares during the quarter. Rockland Trust Co.’s holdings in Chevron were worth $4,559,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was 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 of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Royal Bank of Canada increased their target price 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 reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Chevron Trading Up 0.9 %

Shares of CVX opened at $158.25 on Thursday. The stock has a 50 day simple moving average of $153.78 and a 200-day simple moving average of $150.95. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $284.39 billion, a PE ratio of 17.39, a PEG 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 issued 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. 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 analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is 71.65%.

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.