CoreFirst Bank & Trust Takes Position in Chevron Co. (NYSE:CVX)

CoreFirst Bank & Trust acquired a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,060 shares of the oil and gas company’s stock, valued at approximately $1,892,000. Chevron accounts for 1.1% of CoreFirst Bank & Trust’s portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently bought and sold shares of the company. Lynx Investment Advisory grew its position in shares of Chevron by 1.7% in the 4th quarter. Lynx Investment Advisory now owns 5,026 shares of the oil and gas company’s stock valued at $728,000 after acquiring an additional 85 shares during the period. ICW Investment Advisors LLC lifted its position in Chevron by 16.8% during the fourth quarter. ICW Investment Advisors LLC now owns 14,997 shares of the oil and gas company’s stock worth $2,172,000 after acquiring an additional 2,159 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $230,000. Woodmont Investment Counsel LLC boosted its position in shares of Chevron by 2.1% in the fourth quarter. Woodmont Investment Counsel LLC now owns 115,563 shares of the oil and gas company’s stock valued at $16,738,000 after acquiring an additional 2,352 shares during the period. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Chevron by 0.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company’s stock valued at $19,314,000 after buying an additional 785 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $164.37 on Monday. The company has a 50-day moving average price of $156.29 and a 200 day moving average price of $152.64. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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 $289.39 billion, a PE ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.