First National Bank & Trust Co. of Newtown Sells 610 Shares of Chevron Co. (NYSE:CVX)

First National Bank & Trust Co. of Newtown decreased its holdings in Chevron Co. (NYSE:CVX) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,395 shares of the oil and gas company’s stock after selling 610 shares during the quarter. Chevron accounts for about 0.9% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 18th biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Chevron were worth $4,235,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVX. Picton Mahoney Asset Management bought a new position in Chevron in the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth $33,000. Worth Asset Management LLC purchased a new position in Chevron in the first quarter worth $36,000. Finally, Legacy Financial Group LLC purchased a new position in Chevron in the third quarter worth $43,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $2.63 on Friday, reaching $160.20. 2,731,488 shares of the company’s stock traded hands, compared to its average volume of 8,450,834. The firm has a market cap of $297.53 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 2.36 and a beta of 1.12. The stock has a 50 day moving average price of $155.26 and a 200-day moving average price of $151.90. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities research analysts predict that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVX shares. Jefferies Financial Group raised 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. Raymond James lifted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Wells Fargo & Company lifted their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Truist Financial cut their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

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.