First Citizens Bank & Trust Co. Acquires 36,779 Shares of Chevron Co. (NYSE:CVX)

First Citizens Bank & Trust Co. boosted its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 185.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,563 shares of the oil and gas company’s stock after purchasing an additional 36,779 shares during the period. First Citizens Bank & Trust Co.’s holdings in Chevron were worth $8,437,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley lifted its stake in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after acquiring an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Mizuho increased their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a report on Tuesday, January 16th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

Read Our Latest Analysis on Chevron

Chevron Stock Performance

Shares of Chevron stock opened at $159.82 on Wednesday. The company has a market cap of $296.83 billion, a P/E ratio of 14.07, a PEG ratio of 2.42 and a beta of 1.12. The business has a 50-day moving average price of $152.56 and a two-hundred day moving average price of $152.41. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88.

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

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Chevron Company 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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