Chevron Co. (NYSE:CVX) Shares Purchased by Cambridge Trust Co.

Cambridge Trust Co. lifted its stake in Chevron Co. (NYSE:CVX) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 116,207 shares of the oil and gas company’s stock after purchasing an additional 388 shares during the quarter. Cambridge Trust Co.’s holdings in Chevron were worth $17,333,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVX. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC raised its position in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the period. GQG Partners LLC lifted its holdings in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC increased its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Mizuho increased their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, UBS Group lifted their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 0.4 %

Chevron stock traded up $0.68 during mid-day trading on Thursday, hitting $157.08. 2,681,728 shares of the company’s stock were exchanged, compared to its average volume of 8,498,077. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.38. The stock has a 50 day moving average of $155.19 and a two-hundred day moving average of $151.86. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $291.74 billion, a P/E ratio of 13.83, a P/E/G ratio of 2.30 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the company posted $4.09 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’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 completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

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.