Field & Main Bank Grows Stock Position in Chevron Co. (NYSE:CVX)

Field & Main Bank lifted its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,559 shares of the oil and gas company’s stock after purchasing an additional 180 shares during the period. Chevron comprises approximately 1.2% of Field & Main Bank’s holdings, making the stock its 20th biggest position. Field & Main Bank’s holdings in Chevron were worth $2,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Alliance LLC increased its position in Chevron by 3.8% in the third quarter. Fiduciary Alliance LLC now owns 52,873 shares of the oil and gas company’s stock worth $8,915,000 after buying an additional 1,923 shares in the last quarter. Benedict Financial Advisors Inc. increased its holdings in Chevron by 0.4% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 27,373 shares of the oil and gas company’s stock worth $4,616,000 after acquiring an additional 102 shares in the last quarter. Czech National Bank raised its stake in Chevron by 50.3% during the 3rd quarter. Czech National Bank now owns 310,104 shares of the oil and gas company’s stock worth $52,290,000 after acquiring an additional 103,766 shares during the period. Stewart & Patten Co. LLC lifted its holdings in Chevron by 0.9% during the third quarter. Stewart & Patten Co. LLC now owns 98,266 shares of the oil and gas company’s stock valued at $16,570,000 after purchasing an additional 880 shares in the last quarter. Finally, L. Roy Papp & Associates LLP boosted its position in shares of Chevron by 2.1% in the third quarter. L. Roy Papp & Associates LLP now owns 37,580 shares of the oil and gas company’s stock worth $6,337,000 after purchasing an additional 773 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

CVX stock traded up $0.45 during mid-day trading on Monday, reaching $166.34. 6,365,830 shares of the stock traded hands, compared to its average volume of 8,454,267. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market capitalization of $308.94 billion, a PE ratio of 15.30, a PEG ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business has a 50-day moving average price of $156.81 and a two-hundred day moving average price of $151.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm posted $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho lifted their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.25.

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.