Piscataqua Savings Bank reduced its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.1% during the 1st quarter, HoldingsChannel reports. The company held 13,027 shares in the oil and gas company after selling 147 shares during the period. Chevron represents 1.5% of Piscataqua Savings Bank’s investment portfolio, making it its 17th largest position. Piscataqua Savings Bank’s holdings in Chevron were worth $2,121,000 when it last filed with the Securities and Exchange Commission.
Other institutional investors have also recently changed their positions in the company. Rational Advisors LLC increased its holdings of Chevron stock by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company valued at $26,000 after buying 121 additional shares in the last quarter. Curi Wealth Management LLC purchased a new equity stake in Chevron during Q4 for approximately $30,000. Byrne Asset Management LLC purchased a new stake in Chevron stock during Q4 valued at approximately $36,000. West Bancorporation Inc. purchased a new equity stake in Chevron during Q4 valued at approximately $37,000. Finally, Horan Securities Inc. purchased a new equity stake in Chevron during Q4 valued at approximately $37,000. 65.89% of the shares are currently held by institutional investors.
A number of equity research analysts have weighed in on the stock. Credit Suisse Group raised its price target on Chevron shares from $190.00 to $202.00 and gave the stock an “outperform” rating in a Thursday, June 9 report. Citigroup raised its price target on Chevron shares from $160.00 to $170.00 and gave the stock a “neutral” rating in a Thursday, May 19 report. Royal Bank of Canada downgraded Chevron’s shares from an “outperform” rating to an “sector performer” rating and raised its target price for the stock from $160.00 to $165.00 in a report for Thursday 21 April. Morgan Stanley cut its price target on Chevron shares from $188.00 to $185.00 and set an “equal weight” rating on the stock in a Monday, June 6 report. Finally, Truist Financial cut its price target on Chevron shares from $181.00 to $170.00 and placed a “hold” rating on the stock in a report released Tuesday. One analyst rated the stock with a sell rating, eight assigned a hold rating and fifteen assigned the company a buy rating. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $169.05.
Chevron stock opened at $146.98 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt ratio of 0.20. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The company’s fifty-day moving average is $164.81 and its 200-day moving average is $150.44. The company has a market capitalization of $288.79 billion, a PE ratio of 13.81, a PEG ratio of 0.63 and a beta of 1.09.
Chevron (NYSE:CVX – Get Rating) last released its results on Friday, April 29. The oil and gas company reported earnings per share (EPS) of $3.36 for the quarter, missing consensus analyst estimates of $3.44 per ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company posted revenue of $54.37 billion for the quarter, versus analyst estimates of $54.96 billion. In the same quarter of the previous year, the company achieved EPS of $0.90. The company’s revenue increased 69.8% year over year. Sell-side analysts expect Chevron Co. to post 17.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Thursday, May 19 received a dividend of $1.42 per share. The ex-dividend date was Wednesday, May 18. This represents an annualized dividend of $5.68 and a yield of 3.86%. Chevron’s payout ratio is 53.38%.
In other Chevron news, director Enrique Hernandez, Jr. sold 5,805 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the administrator now owns 22,978 shares of the company, valued at $3,676,480. The transaction was disclosed in a filing with the SEC, accessible via this link. Additionally, Vice Chairman Eimear P. Bonner sold 68,032 shares of the company in a trade on Wednesday, May 4. The stock was sold at an average price of $165.00, for a total transaction of $11,225,280.00. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 561,726 shares of the company worth $94,057,396. Company insiders own 0.32% of the company’s shares.
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Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses worldwide. 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 associated with liquefied natural gas; transportation of crude oil by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.
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