Country Club Bank Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Country Club Bank trimmed its stake in Chevron Co. (NYSE:CVX) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,813 shares of the oil and gas company’s stock after selling 1,965 shares during the period. Chevron makes up approximately 1.0% of Country Club Bank’s portfolio, making the stock its 23rd biggest holding. Country Club Bank’s holdings in Chevron were worth $14,709,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% in the third 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 during the last quarter. Fisher Asset Management LLC lifted its stake in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. lifted its stake in Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chevron by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock worth $1,147,359,000 after acquiring an additional 138,496 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $153.14 on Wednesday. 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 stock’s fifty day moving average is $152.97 and its two-hundred day moving average is $150.93. The company has a market capitalization of $275.20 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company posted $3.45 EPS. As a group, analysts expect that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Chevron 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.