Nixon Peabody Trust Co. Increases Position in Chevron Co. (NYSE:CVX)

Nixon Peabody Trust Co. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,496 shares of the oil and gas company’s stock after buying an additional 9,974 shares during the period. Nixon Peabody Trust Co.’s holdings in Chevron were worth $11,949,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in Chevron during the fourth quarter valued at about $25,000. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter worth about $31,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays decreased their price target 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, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

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

Chevron Trading Up 1.2 %

Shares of Chevron stock opened at $158.59 on Friday. The company has a market capitalization of $285.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a fifty day moving average of $153.14 and a 200 day moving average of $151.44. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $3.45 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share 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 given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.