Chevron Co. (NYSE:CVX) Shares Purchased by First United Bank & Trust

First United Bank & Trust lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,735 shares of the oil and gas company's stock after acquiring an additional 2,075 shares during the quarter. First United Bank & Trust's holdings in Chevron were worth $2,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter worth approximately $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth $31,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the third quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $156.39 on Thursday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $281.05 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The stock's fifty day moving average is $154.09 and its two-hundred day moving average is $151.07. 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 - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 EPS. On average, research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron's dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

Several analysts have commented on CVX shares. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

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.