Fidelity D & D Bancorp Inc. Lowers Stock Position in Chevron Co. (NYSE:CVX)

Fidelity D & D Bancorp Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,522 shares of the oil and gas company’s stock after selling 604 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Chevron were worth $713,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CVX. Bare Financial Services Inc purchased a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the fourth quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter worth approximately $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Truist Financial lifted their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of Chevron stock traded up $0.10 on Friday, hitting $156.42. The company’s stock had a trading volume of 11,283,390 shares, compared to its average volume of 7,477,035. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $159.22 and a 200-day moving average price of $154.62. The company has a market capitalization of $288.28 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.