Webster Bank N. A. Sells 326 Shares of Chevron Co. (NYSE:CVX)

Webster Bank N. A. decreased its position in Chevron Co. (NYSE:CVX) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,925 shares of the oil and gas company’s stock after selling 326 shares during the period. Webster Bank N. A.’s holdings in Chevron were worth $3,176,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Chevron by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,862,178 shares of the oil and gas company’s stock worth $559,398,000 after buying an additional 42,215 shares during the last quarter. United Asset Strategies Inc. increased its position in shares of Chevron by 2.4% during the fourth quarter. United Asset Strategies Inc. now owns 82,321 shares of the oil and gas company’s stock valued at $11,923,000 after acquiring an additional 1,941 shares in the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Chevron by 3.5% during the fourth quarter. Cornerstone Wealth Group LLC now owns 48,629 shares of the oil and gas company’s stock valued at $7,043,000 after acquiring an additional 1,648 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Chevron in the 4th quarter valued at approximately $8,947,000. Finally, Apexium Financial LP lifted its position in Chevron by 92.6% in the 4th quarter. Apexium Financial LP now owns 15,659 shares of the oil and gas company’s stock valued at $2,268,000 after acquiring an additional 7,527 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVX shares. Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group boosted their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Price Performance

Shares of Chevron stock opened at $157.20 on Tuesday. The stock’s fifty day moving average is $153.81 and its 200 day moving average is $151.11. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $282.50 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.37 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 analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The company 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. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, 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 this link. Insiders own 0.20% of the company’s stock.

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.