First County Bank CT Sells 565 Shares of Chevron Co. (NYSE:CVX)

First County Bank CT reduced its holdings in Chevron Co. (NYSE:CVXFree Report) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,169 shares of the oil and gas company’s stock after selling 565 shares during the quarter. First County Bank CT’s holdings in Chevron were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Regent Peak Wealth Advisors LLC increased its position in shares of Chevron by 4.3% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 168 shares during the last quarter. Canandaigua National Trust Co of Florida increased its holdings in shares of Chevron by 17.2% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 3,415 shares of the oil and gas company’s stock worth $495,000 after buying an additional 500 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Chevron by 0.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company’s stock worth $29,115,000 after acquiring an additional 1,092 shares during the last quarter. Doliver Advisors LP grew its position in Chevron by 0.9% in the fourth quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock worth $1,156,000 after acquiring an additional 70 shares in the last quarter. Finally, Bard Financial Services Inc. increased its stake in Chevron by 0.3% in the fourth quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock valued at $9,087,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.19.

Check Out Our Latest Research Report on CVX

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’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 sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Up 1.5 %

Shares of NYSE CVX traded up $2.27 during midday trading on Tuesday, hitting $149.53. 4,877,479 shares of the company traded hands, compared to its average volume of 5,899,240. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $268.72 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.93 and a beta of 1.12. The stock has a 50-day moving average price of $153.60 and a 200 day moving average price of $151.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 EPS. As a group, analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.36%. Chevron’s payout ratio is 71.65%.

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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