Kentucky Trust Co Purchases New Position in Chevron Co. (NYSE:CVX)

Kentucky Trust Co purchased a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,265 shares of the oil and gas company’s stock, valued at approximately $2,790,000. Chevron makes up about 1.6% of Kentucky Trust Co’s investment portfolio, making the stock its 14th largest position.

A number of other large investors have also made changes to their positions in the business. ORG Wealth Partners LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $182,000. Wedge Capital Management L L P NC raised its holdings in Chevron by 4.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after acquiring an additional 120 shares during the last quarter. CX Institutional increased its holdings in shares of Chevron by 97.0% during the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock worth $6,801,000 after buying an additional 22,735 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Chevron by 1.8% during the 3rd quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock worth $33,671,000 after buying an additional 4,004 shares during the last quarter. Finally, Iams Wealth Management LLC increased its holdings in shares of Chevron by 10.5% during the 3rd quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock worth $1,958,000 after buying an additional 1,258 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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 trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $157.43 on Wednesday. The firm has a fifty day moving average of $152.08 and a 200-day moving average of $150.81. The firm has a market capitalization of $282.91 billion, a P/E ratio of 16.20, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $3.45 EPS. As a group, analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm 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 $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVX shares. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial dropped their price objective 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. Four investment 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 a consensus rating of “Moderate Buy” and an average target price 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.