Smithfield Trust Co Sells 102 Shares of Chevron Co. (NYSE:CVX)

Smithfield Trust Co reduced its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,419 shares of the oil and gas company’s stock after selling 102 shares during the period. Smithfield Trust Co’s holdings in Chevron were worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth about $29,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth approximately $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $151.99 on Wednesday. The stock’s 50 day moving average price is $153.51 and its 200-day moving average price is $151.61. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a market capitalization of $267.59 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % 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.

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.