Farmers Trust Co. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Farmers Trust Co. raised its position in shares of Chevron Co. (NYSE:CVX) by 3.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,771 shares of the oil and gas company’s stock after purchasing an additional 361 shares during the period. Farmers Trust Co.’s holdings in Chevron were worth $1,541,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Octavia Wealth Advisors LLC boosted its holdings in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after buying an additional 68 shares during the period. Investment Partners LTD. boosted its holdings in shares of Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares during the last quarter. Certified Advisory Corp boosted its holdings in shares of Chevron by 0.4% during the 4th quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Chevron by 2.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 69 shares during the last quarter. Finally, ACT Wealth Management LLC boosted its holdings in shares of Chevron by 1.7% during the 4th quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CVX shares. Raymond James increased their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Truist Financial increased their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.65 on Friday. The company has a market capitalization of $288.70 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $159.32 and a 200 day moving average of $154.06.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.55 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock valued at $3,176,223. Corporate 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.