CHICAGO TRUST Co NA Cuts Stock Position in Chevron Co. (NYSE:CVX)

CHICAGO TRUST Co NA lowered its stake in Chevron Co. (NYSE:CVX) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,353 shares of the oil and gas company’s stock after selling 458 shares during the period. Chevron accounts for about 0.9% of CHICAGO TRUST Co NA’s holdings, making the stock its 21st largest holding. CHICAGO TRUST Co NA’s holdings in Chevron were worth $4,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Lyell Wealth Management LP lifted its position in Chevron by 9.5% in the 2nd quarter. Lyell Wealth Management LP now owns 57,388 shares of the oil and gas company’s stock valued at $8,977,000 after acquiring an additional 4,994 shares in the last quarter. Williams Financial LLC bought a new position in shares of Chevron during the 2nd quarter valued at $3,533,000. Vista Capital Partners Inc. lifted its holdings in shares of Chevron by 4.1% during the 2nd quarter. Vista Capital Partners Inc. now owns 2,694 shares of the oil and gas company’s stock valued at $421,000 after buying an additional 106 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Chevron during the 2nd quarter valued at $2,593,000. Finally, Wilkins Investment Counsel Inc. lifted its position in Chevron by 11.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 16,515 shares of the oil and gas company’s stock valued at $2,583,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVX shares. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group boosted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.87.

Chevron Stock Up 1.5 %

Chevron stock traded up $2.34 during mid-day trading on Monday, reaching $155.48. 4,301,340 shares of the company were exchanged, compared to its average volume of 7,037,245. The business has a fifty day moving average of $153.69 and a 200 day moving average of $150.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $279.41 billion, a P/E ratio of 17.09, a PEG ratio of 2.93 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.05 earnings per share. Research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal 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 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s 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 directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

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.