Avalon Trust Co Acquires 365 Shares of Chevron Co. (NYSE:CVX)

Avalon Trust Co increased its position in shares of Chevron Co. (NYSE:CVX) by 95.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 748 shares of the oil and gas company’s stock after acquiring an additional 365 shares during the period. Avalon Trust Co’s holdings in Chevron were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the period. Fisher Asset Management LLC increased its holdings in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. Franklin Resources Inc. increased its holdings in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.3 %

NYSE:CVX opened at $157.10 on Friday. The company has a fifty day moving average of $155.03 and a 200 day moving average of $152.02. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors 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 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. UBS Group decreased their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock 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 for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

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.