Zions Bancorporation N.A. Increases Holdings in Chevron Co. (NYSE:CVX)

Zions Bancorporation N.A. boosted its position in Chevron Co. (NYSE:CVX) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,516 shares of the oil and gas company’s stock after buying an additional 22,198 shares during the period. Chevron makes up approximately 0.6% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 21st largest holding. Zions Bancorporation N.A.’s holdings in Chevron were worth $9,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. United Bank raised its holdings in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its holdings in shares of Chevron by 4.8% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company’s stock valued at $3,963,000 after buying an additional 1,233 shares during the period. Concentric Wealth Management LLC boosted its stake in shares of Chevron by 3.1% in the third quarter. Concentric Wealth Management LLC now owns 36,489 shares of the oil and gas company’s stock worth $5,374,000 after buying an additional 1,086 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its holdings in Chevron by 3.6% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 13,276 shares of the oil and gas company’s stock worth $1,955,000 after acquiring an additional 466 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 0.2 %

Shares of CVX opened at $165.10 on Tuesday. The stock has a 50 day moving average price of $156.49 and a 200 day moving average price of $152.81. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. 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 stock has a market capitalization of $290.68 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business posted $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is presently 70.37%.

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.