Wilbanks Smith & Thomas Asset Management LLC Acquires 930 Shares of Chevron Co. (NYSE:CVX)

Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,233 shares of the oil and gas company’s stock after acquiring an additional 930 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Chevron were worth $14,205,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% during 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 acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $33,000. Legacy Financial Group LLC bought a new position in Chevron in the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc boosted its holdings in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.6 %

Shares of NYSE CVX traded up $0.94 during mid-day trading on Thursday, hitting $160.57. The company had a trading volume of 2,166,443 shares, compared to its average volume of 8,368,179. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market capitalization of $298.22 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. 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 firm has a 50-day simple moving average of $157.04 and a two-hundred day simple moving average of $151.74.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.55 earnings per share. On average, equities analysts expect that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.06%. Chevron’s dividend payout ratio is 59.98%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Tuesday, February 6th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have issued 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 price target of $185.35.

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.