Penobscot Investment Management Company Inc. Sells 3,660 Shares of Chevron Co. (NYSE:CVX)

Penobscot Investment Management Company Inc. lowered its position in Chevron Co. (NYSE:CVX) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,843 shares of the oil and gas company’s stock after selling 3,660 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Chevron were worth $5,794,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC bought a new position in Chevron during the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc increased its holdings in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Six 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Price Performance

NYSE CVX traded down $3.51 on Tuesday, reaching $162.82. 2,615,181 shares of the company’s stock traded hands, compared to its average volume of 8,380,826. The stock has a market cap of $302.40 billion, a PE ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a 50-day simple moving average of $156.81 and a 200 day simple moving average of $151.70. 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 announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the company earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Chevron Company 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.