Canandaigua National Bank & Trust Co. Reduces Stake in Chevron Co. (NYSE:CVX)

Canandaigua National Bank & Trust Co. lowered its position in Chevron Co. (NYSE:CVX) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,292 shares of the oil and gas company’s stock after selling 2,025 shares during the period. Chevron makes up approximately 1.4% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 14th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Chevron were worth $9,353,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Renaissance Investment Group LLC boosted its position in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Chevron in the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC boosted its position in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted 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 in the last quarter. Finally, Seven Mile Advisory boosted its position in Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial upped their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Up 0.1 %

Shares of CVX opened at $153.32 on Wednesday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market capitalization of $282.56 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. The stock has a fifty day simple moving average of $159.61 and a two-hundred day simple moving average of $154.05. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors 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 4.25%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 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.