Massmutual Trust Co. FSB ADV Acquires 5,539 Shares of Chevron Co. (NYSE:CVX)

Massmutual Trust Co. FSB ADV boosted its holdings in Chevron Co. (NYSE:CVX) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,703 shares of the oil and gas company’s stock after buying an additional 5,539 shares during the period. Chevron makes up about 1.3% of Massmutual Trust Co. FSB ADV’s investment portfolio, making the stock its 14th largest position. Massmutual Trust Co. FSB ADV’s holdings in Chevron were worth $46,935,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH grew its holdings in shares of Chevron by 1.3% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 72,128 shares of the oil and gas company’s stock worth $10,622,000 after purchasing an additional 948 shares in the last quarter. Ables Iannone Moore & Associates Inc. grew its holdings in shares of Chevron by 3.7% during the 3rd quarter. Ables Iannone Moore & Associates Inc. now owns 8,073 shares of the oil and gas company’s stock worth $1,189,000 after purchasing an additional 287 shares in the last quarter. American National Bank & Trust grew its holdings in shares of Chevron by 15.7% during the 3rd quarter. American National Bank & Trust now owns 92,874 shares of the oil and gas company’s stock worth $13,678,000 after purchasing an additional 12,601 shares in the last quarter. McAlister Sweet & Associates Inc. boosted its stake in Chevron by 12.3% in the 3rd quarter. McAlister Sweet & Associates Inc. now owns 28,400 shares of the oil and gas company’s stock valued at $4,182,000 after buying an additional 3,109 shares in the last quarter. Finally, BancFirst Trust & Investment Management boosted its stake in Chevron by 5.4% in the 3rd quarter. BancFirst Trust & Investment Management now owns 9,327 shares of the oil and gas company’s stock valued at $1,357,000 after buying an additional 481 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.00.

Chevron Trading Up 0.8 %

NYSE:CVX opened at $150.97 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The business’s 50-day moving average price is $146.26 and its two-hundred day moving average price is $154.19. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $276.11 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.