Alerus Financial NA Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Alerus Financial NA boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,289 shares of the oil and gas company’s stock after buying an additional 664 shares during the period. Alerus Financial NA’s holdings in Chevron were worth $8,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CVX. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron during the fourth quarter worth about $1,036,302,000. Bank of New York Mellon Corp increased its holdings in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi raised its position in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Finally, State Street Corp lifted its stake in Chevron by 0.6% during the 3rd 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 acquiring an additional 874,962 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Down 0.7 %

Shares of CVX stock opened at $166.73 on Friday. 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 company’s 50-day moving average price is $157.01 and its 200-day moving average price is $153.21. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The stock has a market cap of $293.54 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 EPS. As a group, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.10%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.