Greenfield Savings Bank Sells 156 Shares of Chevron Co. (NYSE:CVX)

Greenfield Savings Bank lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,970 shares of the oil and gas company’s stock after selling 156 shares during the period. Greenfield Savings Bank’s holdings in Chevron were worth $1,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in shares of Chevron by 5.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after acquiring an additional 2,385 shares during the last quarter. Sierra Summit Advisors LLC raised its stake in Chevron by 13.8% in the second quarter. Sierra Summit Advisors LLC now owns 1,839 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 223 shares in the last quarter. Wulff Hansen & CO. lifted its position in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Terril Brothers Inc. grew its stake in Chevron by 8.7% in the 2nd quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock worth $320,000 after buying an additional 164 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new position in shares of Chevron in the 2nd quarter worth $348,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $156.85 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $281.87 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a 50-day moving average of $153.78 and a 200-day moving average of $150.95.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CVX shares. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Chevron Company 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.