Citizens National Bank Trust Department Has $7.44 Million Position in Chevron Co. (NYSE:CVX)

Citizens National Bank Trust Department trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 51,351 shares of the oil and gas company’s stock after selling 198 shares during the period. Chevron makes up approximately 1.6% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 19th largest position. Citizens National Bank Trust Department’s holdings in Chevron were worth $7,438,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVX. Allspring Global Investments Holdings LLC grew its holdings in shares of Chevron by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after acquiring an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC grew its stake in Chevron by 3.3% in the third quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 131 shares in the last quarter. Eastern Bank increased its position in Chevron by 82.2% in the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after purchasing an additional 115,927 shares during the last quarter. Pegasus Asset Management Inc. raised its stake in shares of Chevron by 0.6% during the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock worth $4,246,000 after purchasing an additional 169 shares in the last quarter. Finally, Hofer & Associates. Inc lifted its holdings in shares of Chevron by 9.1% during the 3rd quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 138 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of CVX opened at $157.14 on Thursday. The stock’s 50-day moving average price is $151.82 and its 200 day moving average price is $150.85. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $282.39 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.