Grove Bank & Trust Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Grove Bank & Trust lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 10.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,665 shares of the oil and gas company's stock after purchasing an additional 1,806 shares during the quarter. Grove Bank & Trust's holdings in Chevron were worth $2,848,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rational Advisors LLC acquired a new position in Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $2.16 during trading hours on Monday, hitting $161.54. 9,233,657 shares of the company were exchanged, compared to its average volume of 7,835,055. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The firm's fifty day moving average is $153.93 and its 200 day moving average is $151.01.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the company posted $3.05 EPS. Chevron's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron's payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup upgraded 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. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target on the stock. Raymond James increased their price objective on Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday. Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.