Chevron Co. (NYSE:CVX) Shares Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division grew its stake in Chevron Co. (NYSE:CVX) by 11.3% during the 4th quarter, Holdings Channel reports. The firm owned 15,008 shares of the oil and gas company’s stock after purchasing an additional 1,521 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Chevron were worth $2,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Lantz Financial LLC grew its position in shares of Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 623 shares in the last quarter. Cozad Asset Management Inc. raised its holdings in shares of Chevron by 18.6% during the 2nd quarter. Cozad Asset Management Inc. now owns 6,427 shares of the oil and gas company’s stock worth $1,005,000 after acquiring an additional 1,010 shares during the period. Hodges Capital Management Inc. boosted its position in shares of Chevron by 10.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 13,176 shares of the oil and gas company’s stock valued at $2,061,000 after acquiring an additional 1,220 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Chevron by 56.3% in the second quarter. Larson Financial Group LLC now owns 8,471 shares of the oil and gas company’s stock valued at $1,325,000 after purchasing an additional 3,053 shares during the period. Finally, Stablepoint Partners LLC increased its position in Chevron by 5.3% during the second quarter. Stablepoint Partners LLC now owns 37,919 shares of the oil and gas company’s stock worth $5,938,000 after purchasing an additional 1,916 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Truist Financial upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.19.

Insider Activity 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 stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX traded up $1.72 on Friday, hitting $148.43. 3,102,465 shares of the company were exchanged, compared to its average volume of 5,083,043. The business’s fifty day moving average is $153.73 and its 200 day moving average is $151.27. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $266.74 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.