Trust Co of the South Invests $301,000 in Chevron Co. (NYSE:CVX)

Trust Co of the South purchased a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,022 shares of the oil and gas company’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $3,058,235,000. Imprint Wealth LLC raised its stake in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after buying an additional 5,343,782 shares during the period. Morgan Stanley grew its stake in shares of Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Chevron by 570.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after acquiring an additional 2,393,200 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.7 %

Shares of NYSE:CVX traded down $1.16 on Tuesday, hitting $155.31. 6,676,320 shares of the company’s stock were exchanged, compared to its average volume of 8,809,306. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business’s 50 day simple moving average is $151.11 and its two-hundred day simple moving average is $152.73. The stock has a market capitalization of $288.45 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 earnings per share. Analysts anticipate that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research note on Tuesday, January 16th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Finally, Piper Sandler dropped their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

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.