Whittier Trust Co. of Nevada Inc. Acquires 61,112 Shares of Chevron Co. (NYSE:CVX)

Whittier Trust Co. of Nevada Inc. grew its position in Chevron Co. (NYSE:CVX) by 33.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,670 shares of the oil and gas company’s stock after acquiring an additional 61,112 shares during the quarter. Chevron accounts for 0.9% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 18th biggest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Chevron were worth $35,438,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $31,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Shares of CVX stock opened at $164.80 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market capitalization of $290.14 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.46 and a beta of 1.08. The stock has a fifty day simple moving average of $156.07 and a two-hundred day simple moving average of $152.40. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.15%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.