First Community Trust NA Has $1.31 Million Stake in Chevron Co. (NYSE:CVX)

First Community Trust NA grew its position in Chevron Co. (NYSE:CVX – Get Rating) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,286 shares of the oil and gas company’s stock after buying an additional 93 shares during the quarter. Chevron accounts for about 1.5% of First Community Trust NA’s portfolio, making the stock its 17th largest holding. First Community Trust NA’s holdings in Chevron were worth $1,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Worth Asset Management LLC acquired a new stake in Chevron in the first quarter valued at about $36,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Chevron by 127.3% in the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 210 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Chevron by 65.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 168 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its stake in shares of Chevron by 275.0% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 600 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 440 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Chevron by 15.5% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 610 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 69.37% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares in the company, valued at $674,390. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Chevron stock opened at $152.34 on Friday. The stock has a market capitalization of $290.46 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.73 and a beta of 1.16. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. The stock’s 50 day moving average price is $169.06 and its two-hundred day moving average price is $169.44.

Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 14.73 earnings per share for the current year.

Chevron declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 25th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.96%. Chevron’s dividend payout ratio (DPR) is currently 33.04%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Citigroup raised their price objective on Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. HSBC upped their target price on Chevron to $187.00 in a report on Friday, December 2nd. Piper Sandler cut their price target on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Finally, Truist Financial upped their price objective on Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $189.50.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.