Hilltop National Bank Has $957,000 Stake in Chevron Co. (NYSE:CVX)

Hilltop National Bank lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,605 shares of the oil and gas company’s stock after selling 70 shares during the quarter. Hilltop National Bank’s holdings in Chevron were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lifted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada upped 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. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Chevron Trading Up 0.9 %

NYSE CVX traded up $1.28 on Friday, reaching $151.58. The company had a trading volume of 3,985,744 shares, compared to its average volume of 6,321,205. The firm has a market cap of $272.40 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50 day moving average of $153.68 and a two-hundred day moving average of $151.08.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Analysts forecast that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.30%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 directly owns 4,280 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron 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.