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

Ledyard National Bank increased its stake in Chevron Co. (NYSE:CVX) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,156 shares of the oil and gas company’s stock after purchasing an additional 185 shares during the quarter. Ledyard National Bank’s holdings in Chevron were worth $1,616,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $151.86 on Friday. The company’s 50 day moving average price is $152.60 and its two-hundred day moving average price is $150.90. 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 $272.90 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $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 accessible through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVX shares. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.