Nixon Peabody Trust Co. Sells 3,049 Shares of Chevron Corporation $CVX

Nixon Peabody Trust Co. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,255 shares of the oil and gas company’s stock after selling 3,049 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Chevron were worth $11,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $33,000. Daytona Street Capital LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $44,000. Maseco LLP bought a new stake in shares of Chevron in the 4th quarter worth approximately $49,000. Turning Point Benefit Group Inc. bought a new stake in shares of Chevron in the 3rd quarter worth approximately $49,000. Finally, High Point Wealth Management LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $53,000. 72.42% of the stock is currently owned by institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. Piper Sandler lifted their price objective on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Morgan Stanley lifted their price objective on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a research report on Friday, April 17th. Finally, Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $204.22.

Insider Buying and Selling at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,179,699 shares of company stock valued at $224,675,517 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX opened at $191.51 on Friday. The stock has a fifty day simple moving average of $193.54 and a two-hundred day simple moving average of $174.60. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $381.42 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. Chevron Corporation has a 12-month low of $134.06 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 EPS. Research analysts predict that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.