VeraBank N.A. Has $3.25 Million Position in Chevron Co. (NYSE:CVX)

VeraBank N.A. decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,777 shares of the oil and gas company’s stock after selling 70 shares during the quarter. Chevron makes up approximately 1.1% of VeraBank N.A.’s holdings, making the stock its 21st largest holding. VeraBank N.A.’s holdings in Chevron were worth $3,248,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CVX. Picton Mahoney Asset Management bought a new position in shares of Chevron in the 3rd quarter valued at about $26,000. Bare Financial Services Inc bought a new position in Chevron in the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $33,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Stock Down 0.3 %

NYSE:CVX traded down $0.48 during trading hours on Friday, reaching $160.25. 11,664,505 shares of the stock were exchanged, compared to its average volume of 7,516,580. The stock has a market cap of $297.63 billion, a PE ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a 50 day moving average of $157.26 and a 200 day moving average of $151.76. 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 announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.