AMG National Trust Bank Purchases 21,685 Shares of Chevron Co. (NYSE:CVX)

AMG National Trust Bank boosted its position in Chevron Co. (NYSE:CVX) by 56.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,372 shares of the oil and gas company’s stock after acquiring an additional 21,685 shares during the period. AMG National Trust Bank’s holdings in Chevron were worth $8,682,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC boosted its holdings in Chevron by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Chevron by 11.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,655 shares of the oil and gas company’s stock worth $1,569,000 after buying an additional 1,113 shares during the last quarter. Maia Wealth LLC grew its holdings in shares of Chevron by 3.1% in the third quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock valued at $538,000 after acquiring an additional 107 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $902,000. Finally, Financial Enhancement Group LLC lifted its holdings in Chevron by 13.8% during the third quarter. Financial Enhancement Group LLC now owns 1,533 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $152.94 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. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a fifty day moving average price of $153.83 and a two-hundred day moving average price of $151.62. The company has a market cap of $269.27 billion, a PE ratio of 15.73, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.