First Citizens Bank & Trust Co. Has $13.54 Million Holdings in Chevron Co. (NYSE:CVX)

First Citizens Bank & Trust Co. lessened its holdings in Chevron Co. (NYSE:CVX) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,462 shares of the oil and gas company’s stock after selling 18,006 shares during the period. First Citizens Bank & Trust Co.’s holdings in Chevron were worth $13,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new position in shares of Chevron during the 2nd quarter valued at approximately $244,000. Scientech Research LLC boosted its holdings in Chevron by 132.3% in the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock worth $783,000 after buying an additional 2,849 shares during the period. Kathmere Capital Management LLC boosted its holdings in Chevron by 6.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock worth $432,000 after buying an additional 167 shares during the period. Creative Planning boosted its holdings in Chevron by 1.8% in the 2nd quarter. Creative Planning now owns 569,660 shares of the oil and gas company’s stock worth $89,106,000 after buying an additional 10,291 shares during the period. Finally, Copperwynd Financial LLC boosted its holdings in Chevron by 15.8% in the 2nd quarter. Copperwynd Financial LLC now owns 5,110 shares of the oil and gas company’s stock worth $820,000 after buying an additional 696 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $155.62 on Monday. The firm has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month 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. The company’s fifty day simple moving average is $153.81 and its two-hundred day simple moving average is $151.14.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the company posted $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In other news, 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 value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.