Trust Co. of Vermont Reduces Stock Position in Chevron Co. (NYSE:CVX)

Trust Co. of Vermont trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,192 shares of the oil and gas company's stock after selling 6,391 shares during the quarter. Trust Co. of Vermont's holdings in Chevron were worth $15,381,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVX. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Truist Financial upped their target price on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average target price of $175.27.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now 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 filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Up 1.4 %

NYSE:CVX traded up $2.16 during mid-day trading on Friday, hitting $161.54. 9,233,657 shares of the company's stock were exchanged, compared to its average volume of 7,835,055. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average price of $153.93 and a 200 day moving average price of $151.05. The company has a market cap of $290.30 billion, a PE ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron's payout ratio is presently 71.65%.

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.