Bremer Bank National Association Trims Stake in Chevron Co. (NYSE:CVX)

Bremer Bank National Association lessened its holdings in Chevron Co. (NYSE:CVX) by 24.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,268 shares of the oil and gas company’s stock after selling 1,069 shares during the period. Bremer Bank National Association’s holdings in Chevron were worth $473,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Raymond James boosted their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. 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 report on Monday, November 4th. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Up 1.4 %

NYSE:CVX opened at $161.54 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $153.93 and a 200-day moving average price of $151.01. The stock has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.