Ledyard National Bank Acquires 110 Shares of Chevron Co. (NYSE:CVX)

Ledyard National Bank grew its position in Chevron Co. (NYSE:CVX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,007 shares of the oil and gas company’s stock after acquiring an additional 110 shares during the period. Ledyard National Bank’s holdings in Chevron were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Altrius Capital Management Inc raised its stake in shares of Chevron by 14.0% in the fourth quarter. Altrius Capital Management Inc now owns 24,317 shares of the oil and gas company’s stock valued at $3,627,000 after acquiring an additional 2,984 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its position in Chevron by 2.7% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 61,315 shares of the oil and gas company’s stock worth $9,146,000 after purchasing an additional 1,621 shares during the last quarter. Greatmark Investment Partners Inc. raised its position in Chevron by 4.0% in the 4th quarter. Greatmark Investment Partners Inc. now owns 24,180 shares of the oil and gas company’s stock worth $3,607,000 after purchasing an additional 936 shares during the last quarter. Birchcreek Wealth Management LLC raised its position in Chevron by 7.2% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,239 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 285 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVX shares. TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $185.25.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.45 on Monday, hitting $166.34. 6,365,830 shares of the company’s stock were exchanged, compared to its average volume of 8,454,267. The firm has a 50-day moving average price of $156.81 and a 200-day moving average price of $151.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market cap of $308.94 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

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, topping 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 firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

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

About Chevron

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.