Fulton Bank N.A. Boosts Stake in Chevron Co. (NYSE:CVX)

Fulton Bank N.A. lifted its position in Chevron Co. (NYSE:CVX) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,223 shares of the oil and gas company’s stock after acquiring an additional 2,474 shares during the period. Fulton Bank N.A.’s holdings in Chevron were worth $6,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $33,000. Cooksen Wealth LLC acquired a new position in Chevron in the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC boosted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last three months. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVX shares. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. UBS Group lifted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Performance

Shares of CVX stock traded up $3.32 during mid-day trading on Thursday, hitting $156.65. 8,334,985 shares of the stock were exchanged, compared to its average volume of 7,978,973. The stock’s fifty day simple moving average is $159.32 and its two-hundred day simple moving average is $154.06. The stock has a market capitalization of $288.70 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the company earned $3.55 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

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.