First Citizens Bank & Trust Co. Sells 18,006 Shares of Chevron Co. (NYSE:CVX)

First Citizens Bank & Trust Co. trimmed its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,462 shares of the oil and gas company's stock after selling 18,006 shares during the period. First Citizens Bank & Trust Co.'s holdings in Chevron were worth $13,537,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tacita Capital Inc raised its stake in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. lifted its stake in shares of Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its position in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock worth $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC raised its holdings in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC lifted its position in Chevron by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock valued at $201,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business'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 transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Chevron Stock Up 1.0 %

Shares of Chevron stock traded up $1.55 during trading on Monday, reaching $157.20. The stock had a trading volume of 7,138,529 shares, compared to its average volume of 7,822,061. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.37 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a fifty day moving average price of $153.81 and a two-hundred day moving average price of $151.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 EPS. The business's revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron's payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVX. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Finally, DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $175.27.

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.