Chevron Co. (NYSE:CVX) Stock Position Increased by Umpqua Bank

Umpqua Bank lifted its stake in Chevron Co. (NYSE:CVX) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,669 shares of the oil and gas company’s stock after acquiring an additional 1,469 shares during the period. Chevron accounts for approximately 1.2% of Umpqua Bank’s holdings, making the stock its 16th biggest position. Umpqua Bank’s holdings in Chevron were worth $3,400,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Sfmg LLC raised its holdings in shares of Chevron by 2.9% during the fourth quarter. Sfmg LLC now owns 9,784 shares of the oil and gas company’s stock valued at $1,417,000 after acquiring an additional 274 shares during the period. Intellus Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth $551,000. Sei Investments Co. increased its stake in shares of Chevron by 2.3% during the 4th quarter. Sei Investments Co. now owns 646,755 shares of the oil and gas company’s stock worth $93,670,000 after purchasing an additional 14,427 shares during the last quarter. Plancorp LLC boosted its holdings in shares of Chevron by 6.0% during the 4th quarter. Plancorp LLC now owns 10,998 shares of the oil and gas company’s stock worth $1,593,000 after buying an additional 624 shares during the period. Finally, Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 36.4% during the 4th quarter. Cyrus J. Lawrence LLC now owns 341 shares of the oil and gas company’s stock worth $49,000 after buying an additional 91 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Raymond James lowered their price objective 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. UBS Group lowered their price objective 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. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $164.37 on Friday. The company has a market capitalization of $289.39 billion, a PE ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a 50 day simple moving average of $156.29 and a two-hundred day simple moving average of $152.51. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the prior year, the firm earned $3.45 EPS. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. 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 4.16%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.