Bell Bank Grows Holdings in Chevron Co. (NYSE:CVX)

Bell Bank lifted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 17.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,851 shares of the oil and gas company's stock after buying an additional 7,661 shares during the quarter. Bell Bank's holdings in Chevron were worth $7,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Greystone Financial Group LLC grew its position in shares of Chevron by 2.9% in the 4th quarter. Greystone Financial Group LLC now owns 56,285 shares of the oil and gas company's stock worth $8,152,000 after buying an additional 1,609 shares during the period. Peregrine Asset Advisers Inc. boosted its stake in Chevron by 2.9% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 10,449 shares of the oil and gas company's stock worth $1,513,000 after purchasing an additional 290 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in Chevron in the 4th quarter worth about $204,000. Blackston Financial Advisory Group LLC boosted its stake in Chevron by 5.6% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,111 shares of the oil and gas company's stock worth $306,000 after purchasing an additional 111 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC boosted its stake in Chevron by 4.3% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 18,727 shares of the oil and gas company's stock worth $2,712,000 after purchasing an additional 765 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.87 during trading on Friday, hitting $156.92. The company's stock had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The company has a 50-day moving average of $151.97 and a 200-day moving average of $150.99. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 firm posted $3.45 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

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.