First Hawaiian Bank Increases Stake in Chevron Co. (NYSE:CVX)

First Hawaiian Bank lifted its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,757 shares of the oil and gas company’s stock after buying an additional 94 shares during the period. First Hawaiian Bank’s holdings in Chevron were worth $3,731,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVX. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.29 during trading on Wednesday, reaching $149.88. The stock had a trading volume of 7,557,876 shares, compared to its average volume of 6,832,494. The business has a fifty day moving average price of $153.63 and a 200-day moving average price of $151.10. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $269.35 billion, a PE ratio of 16.47, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.05 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.19.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Profile

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.