First Interstate Bank Has $1 Million Stock Position in Chevron Co. (NYSE:CVX)

First Interstate Bank lessened its position in Chevron Co. (NYSE:CVX) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,712 shares of the oil and gas company’s stock after selling 402 shares during the period. First Interstate Bank’s holdings in Chevron were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its position in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank bought a new stake in shares of Chevron in the 4th quarter valued at about $3,058,235,000. Imprint Wealth LLC grew its position in shares of Chevron by 15,457.0% in the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley grew its position in shares of Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $1.31 during trading hours on Wednesday, reaching $156.28. The company had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. The firm has a market cap of $290.25 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $172.54. The business has a fifty day simple moving average of $155.11 and a 200 day simple moving average of $151.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company earned $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Piper Sandler cut their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.