Chevron Co. (NYSE:CVX) Shares Sold by Berkshire Bank

Berkshire Bank lessened its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,051 shares of the oil and gas company’s stock after selling 979 shares during the quarter. Berkshire Bank’s holdings in Chevron were worth $2,543,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Management Network Inc. lifted its holdings in shares of Chevron by 49.4% in the fourth quarter. Financial Management Network Inc. now owns 13,935 shares of the oil and gas company’s stock valued at $2,096,000 after buying an additional 4,608 shares during the period. Sigma Investment Counselors Inc. lifted its holdings in shares of Chevron by 0.8% during the fourth quarter. Sigma Investment Counselors Inc. now owns 19,313 shares of the oil and gas company’s stock valued at $2,881,000 after purchasing an additional 147 shares during the last quarter. Nvest Financial LLC lifted its holdings in shares of Chevron by 13.3% during the fourth quarter. Nvest Financial LLC now owns 15,726 shares of the oil and gas company’s stock valued at $2,346,000 after purchasing an additional 1,843 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in Chevron by 10.1% during the fourth quarter. Iron Horse Wealth Management LLC now owns 875 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 80 shares during the period. Finally, Essex Savings Bank raised its position in Chevron by 0.8% during the fourth quarter. Essex Savings Bank now owns 134,898 shares of the oil and gas company’s stock valued at $20,121,000 after buying an additional 1,110 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVX shares. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research report on Tuesday, January 16th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

View Our Latest Research Report on Chevron

Chevron Trading Up 0.5 %

CVX stock opened at $159.82 on Wednesday. The business has a fifty day moving average price of $152.56 and a 200 day moving average price of $152.41. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The stock has a market capitalization of $296.83 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the firm posted $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.13 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is 57.39%.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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