MassMutual Private Wealth & Trust FSB Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

MassMutual Private Wealth & Trust FSB cut its stake in Chevron Co. (NYSE:CVX - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 306,930 shares of the oil and gas company's stock after selling 11,773 shares during the quarter. Chevron makes up approximately 1.2% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 16th largest position. MassMutual Private Wealth & Trust FSB's holdings in Chevron were worth $44,456,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CVX. Fairscale Capital LLC acquired a new position in Chevron in the 2nd quarter worth about $100,000. Discovery Capital Management LLC CT acquired a new position in shares of Chevron during the 2nd quarter worth approximately $30,705,000. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 100 shares during the period. Commonwealth Financial Services LLC increased its holdings in Chevron by 2.9% in the 2nd quarter. Commonwealth Financial Services LLC now owns 3,359 shares of the oil and gas company's stock worth $518,000 after acquiring an additional 96 shares in the last quarter. Finally, Certified Advisory Corp raised its position in Chevron by 6.1% during the second quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company's stock worth $2,692,000 after acquiring an additional 985 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 2.0 %

Shares of NYSE CVX traded down $3.31 during midday trading on Tuesday, reaching $158.16. 10,127,118 shares of the stock were exchanged, compared to its average volume of 8,066,192. The stock has a market capitalization of $284.23 billion, a P/E ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50 day simple moving average of $154.03 and a 200 day simple moving average of $151.04. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.21 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CVX shares. Piper Sandler dropped 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 Thursday, December 19th. Raymond James increased their target price on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a report on Friday. UBS Group lifted their price target on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada lifted their target price 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction 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 directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

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.