Matrix Trust Co Has $1.22 Million Holdings in Chevron Co. (NYSE:CVX)

Matrix Trust Co raised its stake in Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,453 shares of the oil and gas company’s stock after buying an additional 248 shares during the quarter. Matrix Trust Co’s holdings in Chevron were worth $1,224,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVX. Aprio Wealth Management LLC grew its position in Chevron by 10.9% in the fourth quarter. Aprio Wealth Management LLC now owns 5,047 shares of the oil and gas company’s stock worth $731,000 after acquiring an additional 495 shares in the last quarter. Czech National Bank boosted its holdings in shares of Chevron by 4.6% during the 4th quarter. Czech National Bank now owns 362,358 shares of the oil and gas company’s stock worth $52,484,000 after buying an additional 15,868 shares during the period. Graypoint LLC raised its stake in Chevron by 5.2% during the 4th quarter. Graypoint LLC now owns 25,674 shares of the oil and gas company’s stock valued at $3,719,000 after purchasing an additional 1,266 shares during the last quarter. RMR Wealth Builders raised its stake in Chevron by 2.2% during the 4th quarter. RMR Wealth Builders now owns 18,095 shares of the oil and gas company’s stock valued at $2,621,000 after purchasing an additional 391 shares during the last quarter. Finally, Lynch & Associates IN raised its stake in Chevron by 2.3% during the 4th quarter. Lynch & Associates IN now owns 53,678 shares of the oil and gas company’s stock valued at $7,775,000 after purchasing an additional 1,206 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $153.29 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $153.69 and a 200 day simple moving average of $150.95. The stock has a market capitalization of $275.48 billion, a PE ratio of 16.85, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Truist Financial increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.60.

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.