Union Savings Bank Trims Stake in Chevron Co. (NYSE:CVX)

Union Savings Bank lessened its holdings in Chevron Co. (NYSE:CVX) by 6.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,789 shares of the oil and gas company’s stock after selling 470 shares during the period. Union Savings Bank’s holdings in Chevron were worth $983,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Raymond James lifted their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, 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 report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of CVX stock opened at $158.16 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $284.23 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. The business’s 50 day moving average price is $154.03 and its 200-day moving average price is $151.04.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.21 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.