Chevron Co. (NYSE:CVX) Shares Bought by Community Bank N.A.

Community Bank N.A. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,213 shares of the oil and gas company’s stock after acquiring an additional 365 shares during the quarter. Community Bank N.A.’s holdings in Chevron were worth $4,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter worth $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

Shares of NYSE CVX opened at $164.37 on Friday. The company has a market capitalization of $289.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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 business has a 50-day moving average of $156.29 and a two-hundred day moving average of $152.57. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company earned $3.45 EPS. On average, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CVX shares. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.