First Hawaiian Bank Grows Stock Position in Chevron Co. (NYSE:CVX)

First Hawaiian Bank boosted its holdings in Chevron Co. (NYSE:CVX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,757 shares of the oil and gas company’s stock after acquiring an additional 94 shares during the period. First Hawaiian Bank’s holdings in Chevron were worth $3,731,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVX. Tacita Capital Inc grew its holdings in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. boosted its stake in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its position in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC raised its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares during the period. Finally, Jag Capital Management LLC lifted its holdings in shares of Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.2 %

Shares of CVX traded up $0.29 during mid-day trading on Wednesday, reaching $149.88. The company’s stock had a trading volume of 7,557,876 shares, compared to its average volume of 6,832,494. The company’s 50 day moving average is $153.63 and its 200 day moving average is $151.10. The stock has a market cap of $269.35 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVX shares. Truist Financial boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.19.

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.