Chevron Co. (NYSE:CVX) Shares Acquired by Hemenway Trust Co LLC

Hemenway Trust Co LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,733 shares of the oil and gas company’s stock after buying an additional 3,719 shares during the quarter. Chevron accounts for approximately 1.8% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 25th largest position. Hemenway Trust Co LLC’s holdings in Chevron were worth $21,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Wallace Capital Management Inc. raised its holdings in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC grew its position in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in shares of Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Piper Sandler reduced 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 8.3 %

Shares of Chevron stock opened at $143.10 on Friday. The stock has a 50-day simple moving average of $157.38 and a 200-day simple moving average of $154.10. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $168.96. The firm has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93. 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 (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 quarter in the prior year, the company earned $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.