Heritage Trust Co Invests $5.09 Million in Chevron Co. (NYSE:CVX)

Heritage Trust Co bought a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,144 shares of the oil and gas company's stock, valued at approximately $5,090,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. purchased a new position in shares of Chevron in the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp increased its position in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Amundi raised its stake in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Chevron by 6.9% during the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after purchasing an additional 964,426 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average price target of $169.50.

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Chevron Stock Down 0.1 %

CVX stock traded down $0.08 on Tuesday, reaching $135.24. 4,158,355 shares of the company traded hands, compared to its average volume of 7,871,838. 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 has a fifty day simple moving average of $154.99 and a 200-day simple moving average of $153.82. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $238.10 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced 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 5.06%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is currently 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value 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 represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Chevron 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.