Greenfield Savings Bank Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Greenfield Savings Bank lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,970 shares of the oil and gas company’s stock after selling 156 shares during the quarter. Greenfield Savings Bank’s holdings in Chevron were worth $1,734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Marietta Wealth Management LLC lifted its position in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC lifted its holdings in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC grew its stake in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the last quarter. Finally, State Street Corp increased its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $156.85 on Wednesday. The company has a 50-day moving average price of $153.78 and a 200-day moving average price of $150.95. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 firm has a market capitalization of $281.87 billion, a P/E ratio of 17.24, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 EPS. Equities research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 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.