Fulton Bank N.A. Acquires 2,909 Shares of Chevron Co. (NYSE:CVX)

Fulton Bank N.A. increased its position in Chevron Co. (NYSE:CVX) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,878 shares of the oil and gas company’s stock after purchasing an additional 2,909 shares during the period. Fulton Bank N.A.’s holdings in Chevron were worth $7,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Worth Asset Management LLC lifted its holdings in Chevron by 52.8% in the fourth quarter. Worth Asset Management LLC now owns 2,695 shares of the oil and gas company’s stock valued at $390,000 after acquiring an additional 931 shares during the period. Regent Peak Wealth Advisors LLC grew its holdings in Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 168 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in shares of Chevron by 17.2% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 3,415 shares of the oil and gas company’s stock valued at $495,000 after acquiring an additional 500 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Chevron by 0.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company’s stock valued at $29,115,000 after buying an additional 1,092 shares during the period. Finally, Doliver Advisors LP grew its stake in Chevron by 0.9% in the fourth quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock worth $1,156,000 after purchasing an additional 70 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Finally, UBS Group raised their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.19.

Chevron Trading Up 0.3 %

Shares of Chevron stock traded up $0.44 during trading on Wednesday, hitting $150.03. The stock had a trading volume of 3,104,470 shares, compared to its average volume of 5,888,319. 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 $269.62 billion, a PE ratio of 16.49, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50 day simple moving average of $153.63 and a 200 day simple moving average of $151.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal 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 paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, November 18th. 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.