Chevron Co. (NYSE:CVX) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co lessened its stake in shares of Chevron Co. (NYSE:CVX) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,729 shares of the oil and gas company’s stock after selling 17,773 shares during the period. Fiduciary Trust Co’s holdings in Chevron were worth $24,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Providence Capital Advisors LLC grew its holdings in shares of Chevron by 29.3% during the third quarter. Providence Capital Advisors LLC now owns 24,072 shares of the oil and gas company’s stock valued at $3,545,000 after buying an additional 5,458 shares during the last quarter. FORA Capital LLC acquired a new stake in Chevron during the 3rd quarter worth about $7,812,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the 3rd quarter valued at about $31,000. CreativeOne Wealth LLC increased its holdings in shares of Chevron by 37.5% in the third quarter. CreativeOne Wealth LLC now owns 37,273 shares of the oil and gas company’s stock valued at $5,489,000 after purchasing an additional 10,174 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Chevron by 243.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 477,085 shares of the oil and gas company’s stock worth $70,260,000 after purchasing an additional 338,200 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday. UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Stock Down 0.3 %

Shares of NYSE CVX opened at $162.11 on Thursday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $152.69 and its 200-day simple moving average is $152.56. The firm has a market cap of $291.33 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 3.54 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by 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.