CoreFirst Bank & Trust Takes $1.89 Million Position in Chevron Co. (NYSE:CVX)

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

Other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC boosted 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 valued at $30,000 after purchasing an additional 88 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.13.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.91 during midday trading on Tuesday, hitting $165.93. 7,865,154 shares of the stock traded hands, compared to its average volume of 7,337,986. 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 Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a market capitalization of $292.14 billion, a P/E ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The firm has a 50-day moving average of $156.49 and a two-hundred day moving average of $152.81.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly 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 prior year, the company earned $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is 70.37%.

About Chevron

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.