Bell Bank Acquires 239 Shares of Chevron Co. (NYSE:CVX)

Bell Bank increased its position in Chevron Co. (NYSE:CVXFree Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,239 shares of the oil and gas company’s stock after acquiring an additional 239 shares during the period. Bell Bank’s holdings in Chevron were worth $781,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hofer & Associates. Inc lifted its position in Chevron by 15.3% during the fourth quarter. Hofer & Associates. Inc now owns 1,470 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 195 shares in the last quarter. Builder Investment Group Inc. ADV lifted its position in Chevron by 1.3% during the fourth quarter. Builder Investment Group Inc. ADV now owns 23,912 shares of the oil and gas company’s stock valued at $3,567,000 after purchasing an additional 312 shares in the last quarter. Fusion Capital LLC lifted its position in Chevron by 90.3% during the fourth quarter. Fusion Capital LLC now owns 5,306 shares of the oil and gas company’s stock valued at $791,000 after purchasing an additional 2,518 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in Chevron by 185.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 56,563 shares of the oil and gas company’s stock valued at $8,437,000 after purchasing an additional 36,779 shares in the last quarter. Finally, Financial Management Network Inc. lifted its position in Chevron by 49.4% during the fourth quarter. Financial Management Network Inc. now owns 13,935 shares of the oil and gas company’s stock valued at $2,096,000 after purchasing an additional 4,608 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

Shares of NYSE CVX opened at $159.82 on Wednesday. The business’s 50 day moving average is $152.56 and its two-hundred day moving average is $152.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The stock has a market capitalization of $296.83 billion, a P/E ratio of 14.07, a PEG ratio of 2.42 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, research analysts expect that Chevron Co. will post 13.13 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler lowered their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $180.39.

View Our Latest Analysis on Chevron

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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