Heartland Bank & Trust Co Lowers Stock Position in Chevron Co. (NYSE:CVX)

Heartland Bank & Trust Co trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,653 shares of the oil and gas company’s stock after selling 234 shares during the period. Heartland Bank & Trust Co’s holdings in Chevron were worth $819,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Rational Advisors LLC purchased a new position in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron during the third quarter worth $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVX shares. Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Up 1.0 %

CVX opened at $157.20 on Tuesday. The stock has a market capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.37 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. The business has a 50-day moving average of $153.81 and a two-hundred day moving average of $151.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.05 earnings per share. On average, research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.

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.