CoreFirst Bank & Trust Takes Position in Chevron Co. (NYSE:CVX)

CoreFirst Bank & Trust acquired a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,060 shares of the oil and gas company's stock, valued at approximately $1,892,000. Chevron accounts for about 1.1% of CoreFirst Bank & Trust's holdings, making the stock its 27th biggest position.

Several other institutional investors have also recently made changes to their positions in CVX. Life Planning Partners Inc bought a new stake in Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC lifted its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Down 0.7 %

Shares of CVX stock traded down $1.24 during trading on Thursday, hitting $166.73. 6,855,592 shares of the stock traded hands, compared to its average volume of 7,354,966. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $168.96. 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's fifty day moving average price is $157.01 and its 200-day moving average price is $153.21. The firm has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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Chevron (NYSE:CVX - Get Free Report) last released its 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business earned $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.10%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CVX shares. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Insider Activity 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 shares were 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 of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

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.