Chevron Co. (NYSE:CVX) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 49.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,516 shares of the oil and gas company's stock after buying an additional 22,198 shares during the quarter. Chevron makes up approximately 0.6% of Zions Bancorporation N.A.'s portfolio, making the stock its 21st biggest position. Zions Bancorporation N.A.'s holdings in Chevron were worth $9,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. United Bank grew its stake in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company's stock worth $1,192,000 after purchasing an additional 629 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after purchasing an additional 672,244 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in shares of Chevron by 4.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company's stock valued at $3,963,000 after buying an additional 1,233 shares during the last quarter. Concentric Wealth Management LLC lifted its holdings in Chevron by 3.1% during the third quarter. Concentric Wealth Management LLC now owns 36,489 shares of the oil and gas company's stock valued at $5,374,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in shares of Chevron by 3.6% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 13,276 shares of the oil and gas company's stock valued at $1,955,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have commented on CVX shares. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company'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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

NYSE CVX traded up $0.91 on Tuesday, reaching $165.93. The company had a trading volume of 7,867,285 shares, compared to its average volume of 7,343,123. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $292.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm's 50 day moving average price is $156.67 and its 200 day moving average price is $153.01.

Chevron (NYSE:CVX - Get Free Report) last announced 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 previous year, the business posted $3.45 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

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.