OLD Point Trust & Financial Services N A Acquires 80 Shares of Chevron Co. (NYSE:CVX)

OLD Point Trust & Financial Services N A grew its holdings in Chevron Co. (NYSE:CVX) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,191 shares of the oil and gas company’s stock after buying an additional 80 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Chevron were worth $1,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Symmetry Partners LLC grew its position in Chevron by 6.6% in the fourth quarter. Symmetry Partners LLC now owns 1,771 shares of the oil and gas company’s stock worth $256,000 after acquiring an additional 109 shares in the last quarter. Lingohr Asset Management GmbH bought a new stake in shares of Chevron in the 4th quarter valued at approximately $243,000. Berkeley Capital Partners LLC boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the period. Teacher Retirement System of Texas increased its position in shares of Chevron by 157.8% during the 4th quarter. Teacher Retirement System of Texas now owns 529,656 shares of the oil and gas company’s stock valued at $76,715,000 after purchasing an additional 324,184 shares during the last quarter. Finally, First National Bank of Hutchinson raised its holdings in Chevron by 44.1% during the 4th quarter. First National Bank of Hutchinson now owns 2,161 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 661 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Up 2.0 %

NYSE CVX opened at $164.00 on Thursday. The company’s 50-day simple moving average is $155.77 and its two-hundred day simple moving average is $152.31. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $288.73 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company posted $3.45 earnings per share. Equities analysts forecast 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 was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.