Chevron Co. (NYSE:CVX) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in Chevron Co. (NYSE:CVX) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 55,459 shares of the oil and gas company’s stock after selling 11,943 shares during the quarter. OLD National Bancorp IN’s holdings in Chevron were worth $8,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Westhampton Capital LLC lifted its holdings in shares of Chevron by 3.3% in the 4th quarter. Westhampton Capital LLC now owns 7,110 shares of the oil and gas company’s stock worth $1,030,000 after purchasing an additional 230 shares during the last quarter. Busey Bank increased its position in Chevron by 2.1% in the fourth quarter. Busey Bank now owns 166,536 shares of the oil and gas company’s stock worth $24,121,000 after buying an additional 3,494 shares during the period. Abel Hall LLC lifted its stake in Chevron by 4.1% in the fourth quarter. Abel Hall LLC now owns 3,782 shares of the oil and gas company’s stock valued at $548,000 after buying an additional 148 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Chevron by 10.3% during the fourth quarter. Synergy Asset Management LLC now owns 53,895 shares of the oil and gas company’s stock valued at $7,907,000 after acquiring an additional 5,018 shares during the period. Finally, Gries Financial LLC grew its position in shares of Chevron by 213.3% during the fourth quarter. Gries Financial LLC now owns 7,691 shares of the oil and gas company’s stock worth $1,114,000 after acquiring an additional 5,236 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.3 %

CVX stock opened at $156.19 on Friday. 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 firm has a market cap of $280.68 billion, a PE ratio of 17.16, a P/E/G ratio of 1.35 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 firm has a 50 day simple moving average of $153.56 and a 200 day simple moving average of $151.16.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently 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.