Field & Main Bank Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Field & Main Bank lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,559 shares of the oil and gas company’s stock after acquiring an additional 180 shares during the period. Chevron accounts for about 1.2% of Field & Main Bank’s holdings, making the stock its 20th biggest position. Field & Main Bank’s holdings in Chevron were worth $2,768,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kestra Private Wealth Services LLC grew its position in Chevron by 9.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 139,441 shares of the oil and gas company’s stock worth $20,799,000 after purchasing an additional 11,658 shares during the last quarter. Ledyard National Bank grew its holdings in shares of Chevron by 0.9% during the fourth quarter. Ledyard National Bank now owns 12,007 shares of the oil and gas company’s stock worth $1,791,000 after buying an additional 110 shares during the last quarter. Altrius Capital Management Inc increased its position in Chevron by 14.0% in the 4th quarter. Altrius Capital Management Inc now owns 24,317 shares of the oil and gas company’s stock valued at $3,627,000 after acquiring an additional 2,984 shares during the period. Adell Harriman & Carpenter Inc. raised its stake in Chevron by 2.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 61,315 shares of the oil and gas company’s stock valued at $9,146,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Greatmark Investment Partners Inc. raised its position in shares of Chevron by 4.0% during the 4th quarter. Greatmark Investment Partners Inc. now owns 24,180 shares of the oil and gas company’s stock worth $3,607,000 after purchasing an additional 936 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.3 %

CVX stock traded up $0.45 during trading on Monday, reaching $166.34. The stock had a trading volume of 6,365,830 shares, compared to its average volume of 8,454,267. The firm has a fifty day moving average price of $156.81 and a 200 day moving average price of $151.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $308.94 billion, a P/E ratio of 15.30, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $185.25.

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.