Chevron Co. (NYSE:CVX) Shares Acquired by Sabal Trust CO

Sabal Trust CO increased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 191,968 shares of the oil and gas company’s stock after buying an additional 285 shares during the period. Chevron comprises approximately 1.6% of Sabal Trust CO’s holdings, making the stock its 25th biggest position. Sabal Trust CO’s holdings in Chevron were worth $27,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp lifted its holdings in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.0 %

Chevron stock opened at $156.38 on Wednesday. The company has a market capitalization of $281.04 billion, a PE ratio of 16.09, a price-to-earnings-growth 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. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50 day moving average price of $152.30 and a 200 day moving average price of $151.28.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the firm earned $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. 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 dividend on an annualized basis and a yield of 4.37%. Chevron’s dividend payout ratio is 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value 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 trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CVX. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial dropped their price objective 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. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Company 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.