Chevron Co. (NYSE:CVX) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division reduced its holdings in Chevron Co. (NYSE:CVX) by 5.1% during the 1st quarter, Holdings Channel reports. The firm owned 64,996 shares of the oil and gas company’s stock after selling 3,495 shares during the quarter. First Financial Bank Trust Division’s holdings in Chevron were worth $10,252,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Octavia Wealth Advisors LLC grew its holdings in Chevron by 1.3% during the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares during the last quarter. Investment Partners LTD. lifted its stake 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 worth $1,212,000 after purchasing an additional 68 shares during the period. Certified Advisory Corp lifted its stake 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 worth $2,404,000 after purchasing an additional 68 shares during the period. Beaird Harris Wealth Management LLC lifted its stake 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 worth $509,000 after purchasing an additional 69 shares during the period. Finally, ACT Wealth Management LLC lifted its stake 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 worth $641,000 after purchasing an additional 70 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX opened at $153.32 on Wednesday. The business’s 50 day moving average is $159.61 and its 200-day moving average is $154.05. The stock has a market cap 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 company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its 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 return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.25%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred 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 transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.