Heritage Trust Co Increases Position in Chevron Co. (NYSE:CVX)

Heritage Trust Co raised its holdings in shares of Chevron Co. (NYSE:CVX) by 5.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 53,958 shares of the oil and gas company’s stock after purchasing an additional 2,833 shares during the quarter. Heritage Trust Co’s holdings in Chevron were worth $5,654,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sage Mountain Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $352,000. Almanack Investment Partners LLC. raised its stake in shares of Chevron by 39.6% during the fourth quarter. Almanack Investment Partners LLC. now owns 3,974 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 1,127 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of Chevron by 5.0% during the fourth quarter. Meritage Portfolio Management now owns 42,932 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 2,038 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Chevron during the fourth quarter valued at approximately $399,000. Finally, Galvin Gaustad & Stein LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $721,000. Institutional investors and hedge funds own 66.03% of the company’s stock.

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Chevron from $113.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, March 11th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Thursday, March 11th. Truist boosted their price objective on shares of Chevron from $105.00 to $130.00 in a research note on Wednesday, March 10th. Zacks Investment Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating and set a $112.00 price objective for the company. in a research note on Wednesday, May 5th. Finally, Citigroup began coverage on shares of Chevron in a research note on Wednesday, March 10th. They issued a “neutral” rating and a $105.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $113.92.

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,101 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $110.79, for a total value of $565,139.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

NYSE:CVX traded down $0.34 during mid-day trading on Friday, hitting $108.07. The company’s stock had a trading volume of 329,366 shares, compared to its average volume of 10,596,347. Chevron Co. has a 1 year low of $65.16 and a 1 year high of $113.11. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $208.37 billion, a PE ratio of -26.00, a price-to-earnings-growth ratio of 3.99 and a beta of 1.31. The business’s fifty day moving average price is $105.26.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Chevron had a negative net margin of 8.15% and a negative return on equity of 0.82%. The business had revenue of $32.03 billion during the quarter, compared to analysts’ expectations of $31.82 billion. During the same period in the previous year, the company posted $1.29 earnings per share. Chevron’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 5.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th were given a $1.34 dividend. The ex-dividend date was Tuesday, May 18th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.96%. This is an increase from Chevron’s previous quarterly dividend of $1.29. Chevron’s dividend payout ratio is -2,680.00%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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