Ledyard National Bank Acquires 185 Shares of Chevron Co. (NYSE:CVX)

Ledyard National Bank increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,156 shares of the oil and gas company’s stock after acquiring an additional 185 shares during the quarter. Ledyard National Bank’s holdings in Chevron were worth $1,616,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Finally, State Street Corp lifted its position in 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 worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX stock opened at $151.86 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 firm has a market capitalization of $272.90 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11. The firm’s 50 day moving average is $152.60 and its 200-day moving average is $150.90. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 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 prior year, the business earned $3.45 earnings per share. Sell-side analysts forecast that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 67.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In related 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 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron 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.