Crews Bank & Trust Acquires New Position in Chevron Co. (NYSE:CVX)

Crews Bank & Trust acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, Holdings Channel reports. The firm acquired 13,048 shares of the oil and gas company’s stock, valued at approximately $1,890,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Chevron by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock worth $1,147,359,000 after acquiring an additional 138,496 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $156.19 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day moving average price of $153.56 and a 200 day moving average price of $151.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $280.68 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 1.12.

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

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Barclays boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada boosted their price objective 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. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James boosted their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

About Chevron

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.