Farmers & Merchants Trust Co of Chambersburg PA Decreases Stake in Chevron Co. (NYSE:CVX)

Farmers & Merchants Trust Co of Chambersburg PA lessened its stake in shares of Chevron Co. (NYSE:CVX) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,771 shares of the oil and gas company’s stock after selling 2,031 shares during the period. Chevron makes up about 1.4% of Farmers & Merchants Trust Co of Chambersburg PA’s portfolio, making the stock its 22nd biggest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Chevron were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth about $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.7 %

CVX opened at $156.00 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve 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 has a 50-day moving average price of $151.92 and a 200 day moving average price of $150.84. The company has a market cap of $280.35 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.