First Bank & Trust Acquires 4,497 Shares of Chevron Co. (NYSE:CVX)

First Bank & Trust boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 30.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,053 shares of the oil and gas company’s stock after purchasing an additional 4,497 shares during the quarter. First Bank & Trust’s holdings in Chevron were worth $2,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. State Street Corp increased its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% in 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 acquiring an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC increased its stake in Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares during the last quarter. Franklin Resources Inc. increased its stake in Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Chevron by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock worth $1,147,359,000 after acquiring an additional 138,496 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

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 transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $157.14 on Thursday. The stock’s fifty day moving average is $151.82 and its two-hundred day moving average is $150.85. The company has a market capitalization of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 company posted $3.45 earnings per share. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron 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.