American National Bank Has $10.71 Million Stock Position in Chevron Co. (NYSE:CVX)

American National Bank cut its position in Chevron Co. (NYSE:CVX – Get Rating) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,649 shares of the oil and gas company’s stock after selling 2,634 shares during the period. Chevron accounts for approximately 2.2% of American National Bank’s investment portfolio, making the stock its 11th biggest holding. American National Bank’s holdings in Chevron were worth $10,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ICW Investment Advisors LLC boosted its holdings in Chevron by 0.5% in the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock valued at $1,570,000 after acquiring an additional 55 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Chevron by 0.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock valued at $1,051,000 after purchasing an additional 57 shares in the last quarter. Klingman & Associates LLC increased its position in shares of Chevron by 1.6% during the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock valued at $537,000 after buying an additional 58 shares during the period. Knuff & Co LLC raised its stake in Chevron by 0.5% in the third quarter. Knuff & Co LLC now owns 12,234 shares of the oil and gas company’s stock worth $1,758,000 after buying an additional 60 shares in the last quarter. Finally, SignalPoint Asset Management LLC lifted its holdings in Chevron by 0.4% in the third quarter. SignalPoint Asset Management LLC now owns 14,906 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 61 shares during the period. 69.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction 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 completion of the sale, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com started coverage on Chevron in a report on Thursday. They set a “hold” rating on the stock. Truist Financial raised their price objective on Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. Barclays boosted their target price on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Cowen decreased their price target on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $189.50.

Chevron Stock Down 1.3 %

CVX stock opened at $152.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68. The stock has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.73 and a beta of 1.16. The business has a fifty day moving average price of $169.06 and a 200-day moving average price of $169.44.

Chevron (NYSE:CVX – Get Rating) last posted 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 net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same quarter in the prior year, the company posted $2.56 EPS. Chevron’s revenue was up 17.1% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 14.73 earnings per share for the current fiscal year.

Chevron announced that its board has initiated a share buyback plan on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Chevron Increases Dividend

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

Chevron 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.