Davidson Trust Co. Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Davidson Trust Co. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,029 shares of the oil and gas company’s stock after selling 79 shares during the period. Chevron comprises approximately 1.9% of Davidson Trust Co.’s holdings, making the stock its 11th largest holding. Davidson Trust Co.’s holdings in Chevron were worth $3,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVX. Chicago Capital LLC increased its position in shares of Chevron by 3.0% during the third quarter. Chicago Capital LLC now owns 9,733 shares of the oil and gas company’s stock valued at $1,433,000 after buying an additional 279 shares during the period. Cyndeo Wealth Partners LLC grew its position in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares during the period. Compass Ion Advisors LLC grew its position in shares of Chevron by 3.0% in the 3rd quarter. Compass Ion Advisors LLC now owns 5,931 shares of the oil and gas company’s stock worth $874,000 after buying an additional 174 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after purchasing an additional 27,483 shares during the period. Finally, Godsey & Gibb Inc. grew its stake in shares of Chevron by 2.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 125,724 shares of the oil and gas company’s stock worth $18,515,000 after buying an additional 3,544 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $155.32 on Tuesday. The stock’s 50-day simple moving average is $151.86 and its 200-day simple moving average is $150.73. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 previous year, the firm earned $3.45 earnings per share. As a group, analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 67.08%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.