Fidelity D & D Bancorp Inc. Sells 604 Shares of Chevron Co. (NYSE:CVX)

Fidelity D & D Bancorp Inc. decreased its position in Chevron Co. (NYSE:CVX) by 11.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,522 shares of the oil and gas company’s stock after selling 604 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Chevron were worth $713,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Caxton Associates LP acquired a new position in Chevron during the 3rd quarter worth about $207,000. United Services Automobile Association lifted its position in Chevron by 13.9% during the 3rd quarter. United Services Automobile Association now owns 48,859 shares of the oil and gas company’s stock worth $8,239,000 after buying an additional 5,968 shares in the last quarter. Hodges Capital Management Inc. lifted its position in Chevron by 6.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 7,855 shares of the oil and gas company’s stock worth $1,325,000 after buying an additional 445 shares in the last quarter. Lazard Asset Management LLC lifted its position in Chevron by 7.6% during the 3rd quarter. Lazard Asset Management LLC now owns 5,182,317 shares of the oil and gas company’s stock valued at $873,841,000 after purchasing an additional 364,969 shares during the period. Finally, Kidder Stephen W lifted its position in Chevron by 10.9% during the 3rd quarter. Kidder Stephen W now owns 30,892 shares of the oil and gas company’s stock valued at $5,209,000 after purchasing an additional 3,046 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of CVX traded up $0.10 during mid-day trading on Friday, hitting $156.42. 11,283,390 shares of the company’s stock were exchanged, compared to its average volume of 7,477,035. The company has a market cap of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a 50-day simple moving average of $159.22 and a 200 day simple moving average of $154.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $3.55 EPS. On average, research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company upped their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Truist Financial increased their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Mizuho increased their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

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.