Kennebec Savings Bank Sells 137 Shares of Chevron Co. (NYSE:CVX)

Kennebec Savings Bank cut its position in shares of Chevron Co. (NYSE:CVX) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,602 shares of the oil and gas company’s stock after selling 137 shares during the period. Kennebec Savings Bank’s holdings in Chevron were worth $560,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Hansen & Associates Financial Group Inc. acquired a new position in Chevron during the fourth quarter valued at approximately $11,916,000. Evernest Financial Advisors LLC boosted its position in Chevron by 11.5% during the fourth quarter. Evernest Financial Advisors LLC now owns 3,678 shares of the oil and gas company’s stock valued at $533,000 after purchasing an additional 379 shares during the last quarter. Hunter Associates Investment Management LLC boosted its position in Chevron by 4.6% during the fourth quarter. Hunter Associates Investment Management LLC now owns 21,652 shares of the oil and gas company’s stock valued at $3,130,000 after purchasing an additional 947 shares during the last quarter. Sonora Investment Management Group LLC boosted its position in Chevron by 8.0% during the fourth quarter. Sonora Investment Management Group LLC now owns 83,143 shares of the oil and gas company’s stock valued at $12,042,000 after purchasing an additional 6,154 shares during the last quarter. Finally, Fortune Financial Advisors LLC boosted its position in Chevron by 4.5% during the fourth quarter. Fortune Financial Advisors LLC now owns 6,480 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 280 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction 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 transaction, the chief executive officer now 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $149.21 on Friday. The stock’s fifty day moving average price is $153.46 and its two-hundred day moving average price is $151.20. Chevron Co. has a one year low of $135.37 and a one year 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 cap of $268.14 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last posted 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 return on equity of 13.15% and a net margin of 8.44%. During the same period in the prior year, the business posted $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group raised 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 raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.