Truist Financial Corp Purchases 36,185 Shares of Chevron Co. (NYSE:CVX)

Truist Financial Corp grew its stake in Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,645,689 shares of the oil and gas company’s stock after buying an additional 36,185 shares during the period. Truist Financial Corp’s holdings in Chevron were worth $238,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CVX. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter valued at $25,000. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX opened at $155.32 on Tuesday. 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 market capitalization of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm’s fifty day simple moving average is $151.86 and its two-hundred day simple moving average is $150.73.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm posted $3.45 EPS. Analysts forecast that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded 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 report on Tuesday, November 26th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.