Bangor Savings Bank Has $690,000 Holdings in Chevron Co. (NYSE:CVX)

Bangor Savings Bank reduced its stake in shares of Chevron Co. (NYSE:CVX) by 75.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,764 shares of the oil and gas company’s stock after selling 14,468 shares during the period. Bangor Savings Bank’s holdings in Chevron were worth $690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Canandaigua National Trust Co of Florida raised its position in shares of Chevron by 17.2% during the fourth quarter. Canandaigua National Trust Co of Florida now owns 3,415 shares of the oil and gas company’s stock worth $495,000 after acquiring an additional 500 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Chevron by 0.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company’s stock worth $29,115,000 after purchasing an additional 1,092 shares during the period. Doliver Advisors LP boosted its stake in shares of Chevron by 0.9% in the 4th quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock valued at $1,156,000 after purchasing an additional 70 shares during the last quarter. Bard Financial Services Inc. increased its position in shares of Chevron by 0.3% during the fourth quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock worth $9,087,000 after buying an additional 200 shares during the period. Finally, Neville Rodie & Shaw Inc. raised its stake in Chevron by 2.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company’s stock worth $9,039,000 after buying an additional 1,767 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.5 %

CVX stock opened at $147.10 on Tuesday. The firm has a market capitalization of $264.35 billion, a PE ratio of 16.16, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock’s 50 day moving average is $153.60 and its 200-day moving average is $151.14.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 EPS. Sell-side analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s 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 directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.19.

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.