First National Bank & Trust Co. of Newtown Sells 610 Shares of Chevron Co. (NYSE:CVX)

First National Bank & Trust Co. of Newtown decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,395 shares of the oil and gas company’s stock after selling 610 shares during the period. Chevron accounts for about 0.9% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 18th largest holding. First National Bank & Trust Co. of Newtown’s holdings in Chevron were worth $4,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the period. Morgan Stanley grew its holdings in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after acquiring an additional 368,898 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVX shares. 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 report on Monday, January 8th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Up 1.7 %

CVX traded up $2.63 during trading on Friday, hitting $160.20. 2,731,488 shares of the company’s stock traded hands, compared to its average volume of 8,450,834. The company’s 50 day simple moving average is $155.26 and its two-hundred day simple moving average is $151.90. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.38. The stock has a market capitalization of $297.53 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.09 EPS. Analysts predict that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

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.