Hancock Whitney Corp Increases Stock Position in Chevron Co. (NYSE:CVX)

Hancock Whitney Corp raised its position in Chevron Co. (NYSE:CVX - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,200 shares of the oil and gas company's stock after acquiring an additional 3,482 shares during the quarter. Hancock Whitney Corp's holdings in Chevron were worth $13,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Allianz SE purchased a new stake in Chevron in the 4th quarter worth approximately $9,369,000. Nicholas Company Inc. lifted its position in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC lifted its position in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after purchasing an additional 2,755 shares during the last quarter. Cerity Partners LLC raised its holdings in Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after buying an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd bought a new position in Chevron during the 4th quarter valued at about $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.4 %

Shares of Chevron stock opened at $136.70 on Thursday. The company has a fifty day moving average price of $152.37 and a 200 day moving average price of $153.10. The stock has a market cap of $240.68 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm earned $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.00%. This is an increase 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%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average price target of $165.71.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

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.

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