Adirondack Trust Co. Sells 207 Shares of Chevron Co. (NYSE:CVX)

Adirondack Trust Co. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,519 shares of the oil and gas company’s stock after selling 207 shares during the quarter. Chevron comprises approximately 1.0% of Adirondack Trust Co.’s investment portfolio, making the stock its 23rd biggest holding. Adirondack Trust Co.’s holdings in Chevron were worth $2,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Renaissance Investment Group LLC boosted its holdings in shares of 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 period. Camelot Portfolios LLC bought a new stake in shares of Chevron in the fourth quarter worth $254,000. Kapstone Financial Advisors LLC lifted its position in shares of Chevron by 5.3% in the fourth 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. lifted its position in shares of Chevron by 1.7% in the fourth 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 lifted its position in shares of Chevron by 9.8% in the fourth 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. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s 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 completion of the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 2.2 %

Shares of NYSE CVX opened at $156.65 on Friday. The company has a 50 day simple moving average of $159.32 and a 200 day simple moving average of $154.06. The firm has a market cap of $288.70 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

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, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Mizuho upped their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial upped their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.