New Covenant Trust Company N.A. Has $263,000 Holdings in Chevron Co. (NYSE:CVX)

New Covenant Trust Company N.A. decreased its position in Chevron Co. (NYSE:CVX) by 11.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,836 shares of the oil and gas company’s stock after selling 242 shares during the period. New Covenant Trust Company N.A.’s holdings in Chevron were worth $263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.7 %

Shares of NYSE:CVX opened at $151.99 on Wednesday. The firm has a fifty day moving average price of $153.51 and a two-hundred day moving average price of $151.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $267.59 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

About Chevron

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.