First PREMIER Bank Has $968,000 Stock Holdings in Chevron Co. (NYSE:CVX)

First PREMIER Bank lowered its stake in shares of Chevron Co. (NYSE:CVX) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,689 shares of the oil and gas company’s stock after selling 811 shares during the period. First PREMIER Bank’s holdings in Chevron were worth $968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fred Alger Management LLC increased its position in Chevron by 7.4% in the 2nd quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock worth $10,022,000 after purchasing an additional 4,435 shares during the last quarter. AXA S.A. grew its stake in shares of Chevron by 15.1% in the 2nd quarter. AXA S.A. now owns 413,390 shares of the oil and gas company’s stock valued at $64,662,000 after buying an additional 54,363 shares in the last quarter. AQR Capital Management LLC increased its holdings in Chevron by 41.3% in the second quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock worth $134,233,000 after buying an additional 250,902 shares during the last quarter. Ameriprise Financial Inc. raised its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new stake in Chevron in the second quarter valued at approximately $216,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.3 %

Shares of CVX opened at $155.99 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day simple moving average of $154.05 and a 200-day simple moving average of $151.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market capitalization of $280.32 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.39 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 EPS. On average, equities research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Scotiabank reduced their target price 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, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was 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 hyperlink. 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.