Chevron Co. (NYSE:CVX) Shares Acquired by Cetera Trust Company N.A

Cetera Trust Company N.A increased its position in shares of Chevron Co. (NYSE:CVX) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,831 shares of the oil and gas company’s stock after buying an additional 585 shares during the period. Cetera Trust Company N.A’s holdings in Chevron were worth $1,134,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC raised its position in Chevron by 7.4% during the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock worth $10,022,000 after acquiring an additional 4,435 shares during the period. AXA S.A. raised its position in shares of Chevron by 15.1% in the second quarter. AXA S.A. now owns 413,390 shares of the oil and gas company’s stock valued at $64,662,000 after buying an additional 54,363 shares during the last quarter. AQR Capital Management LLC increased its position in Chevron by 41.3% during the second quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock worth $134,233,000 after purchasing an additional 250,902 shares during the last quarter. Ameriprise Financial Inc. increased its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new stake in Chevron during the second quarter worth about $216,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. Wells Fargo & Company increased their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

NYSE:CVX opened at $155.99 on Friday. The firm’s fifty day moving average price is $154.05 and its 200 day moving average price is $151.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $280.32 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given 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 4.18%. Chevron’s dividend payout ratio is presently 71.65%.

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.