Central Bank & Trust Co. Acquires 399 Shares of Chevron Co. (NYSE:CVX)

Central Bank & Trust Co. grew its stake in Chevron Co. (NYSE:CVX) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,272 shares of the oil and gas company’s stock after purchasing an additional 399 shares during the period. Central Bank & Trust Co.’s holdings in Chevron were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Evergreen Capital Management LLC grew its stake in Chevron by 1.9% during the second quarter. Evergreen Capital Management LLC now owns 40,897 shares of the oil and gas company’s stock worth $6,397,000 after buying an additional 775 shares during the last quarter. Providence Capital Advisors LLC grew its holdings in shares of Chevron by 1.6% during the second quarter. Providence Capital Advisors LLC now owns 18,614 shares of the oil and gas company’s stock worth $2,912,000 after purchasing an additional 288 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Chevron in the second quarter valued at $12,340,000. Mill Creek Capital Advisors LLC raised its holdings in shares of Chevron by 3.2% in the second quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock valued at $659,000 after buying an additional 131 shares during the last quarter. Finally, Semmax Financial Advisors Inc. lifted its position in Chevron by 21.8% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,209 shares of the oil and gas company’s stock worth $751,000 after buying an additional 932 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 2.0 %

Chevron stock opened at $158.16 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $284.23 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12. The company’s 50 day simple moving average is $154.03 and its 200 day simple moving average is $151.04.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.