Chevron Co. (NYSE:CVX) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lessened its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 292,461 shares of the oil and gas company’s stock after selling 5,732 shares during the period. Chevron comprises 1.5% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 19th largest holding. Stock Yards Bank & Trust Co.’s holdings in Chevron were worth $42,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Czech National Bank lifted its position in Chevron by 6.1% during the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock worth $51,028,000 after acquiring an additional 19,878 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Chevron by 3.2% in the third quarter. Azzad Asset Management Inc. ADV now owns 30,489 shares of the oil and gas company’s stock valued at $4,490,000 after purchasing an additional 942 shares during the period. Smith Anglin Financial LLC raised its stake in shares of Chevron by 4.5% during the third quarter. Smith Anglin Financial LLC now owns 6,384 shares of the oil and gas company’s stock worth $940,000 after purchasing an additional 275 shares during the last quarter. Chemistry Wealth Management LLC lifted its holdings in shares of Chevron by 17.7% during the third quarter. Chemistry Wealth Management LLC now owns 4,144 shares of the oil and gas company’s stock worth $610,000 after purchasing an additional 622 shares during the period. Finally, Miracle Mile Advisors LLC grew its position in Chevron by 1.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock valued at $3,933,000 after buying an additional 372 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 4.5 %

Shares of NYSE:CVX opened at $149.21 on Monday. 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 company has a market capitalization of $268.14 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s fifty day simple moving average is $153.19 and its 200-day simple moving average is $151.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 previous year, the business earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on 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 completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Truist Financial lifted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.