Community Bank & Trust Waco Texas Acquires 3,955 Shares of Chevron Co. (NYSE:CVX)

Community Bank & Trust Waco Texas raised its holdings in shares of Chevron Co. (NYSE:CVX) by 9.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 44,350 shares of the oil and gas company’s stock after acquiring an additional 3,955 shares during the period. Chevron makes up 1.8% of Community Bank & Trust Waco Texas’ holdings, making the stock its 15th largest position. Community Bank & Trust Waco Texas’ holdings in Chevron were worth $6,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley raised its position in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Northern Trust Corp raised its position in shares of Chevron by 2.6% in the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after buying an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after buying an additional 62,254 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Chevron Stock Performance

Shares of Chevron stock traded down $0.28 on Wednesday, reaching $162.57. 2,393,952 shares of the company traded hands, compared to its average volume of 8,380,189. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a 50 day moving average of $155.88 and a 200 day moving average of $151.66. The firm has a market capitalization of $301.94 billion, a PE ratio of 14.33, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the firm earned $4.09 EPS. Equities analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.