Norway Savings Bank Buys 140 Shares of Chevron Co. (NYSE:CVX)

Norway Savings Bank lifted its stake in Chevron Co. (NYSE:CVX) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,709 shares of the oil and gas company’s stock after buying an additional 140 shares during the period. Norway Savings Bank’s holdings in Chevron were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CVX. Concentric Wealth Management LLC increased its stake in shares of Chevron by 0.3% during the 2nd quarter. Concentric Wealth Management LLC now owns 36,963 shares of the oil and gas company’s stock worth $3,872,000 after purchasing an additional 98 shares during the last quarter. Rede Wealth LLC increased its stake in shares of Chevron by 2.3% during the 2nd quarter. Rede Wealth LLC now owns 4,438 shares of the oil and gas company’s stock worth $464,000 after purchasing an additional 100 shares during the last quarter. Encompass Wealth Advisors LLC increased its stake in shares of Chevron by 1.7% during the 2nd quarter. Encompass Wealth Advisors LLC now owns 6,110 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 100 shares during the last quarter. Fiduciary Planning LLC increased its stake in shares of Chevron by 5.2% during the 2nd quarter. Fiduciary Planning LLC now owns 2,039 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 100 shares during the last quarter. Finally, Foster Group Inc. grew its stake in Chevron by 2.7% in the 2nd quarter. Foster Group Inc. now owns 3,850 shares of the oil and gas company’s stock valued at $403,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.

A number of research analysts recently weighed in on CVX shares. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, September 21st. JPMorgan Chase & Co. lowered shares of Chevron from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $128.00 to $111.00 in a research note on Wednesday, September 15th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $130.00 to $145.00 in a research note on Wednesday. TheStreet upgraded shares of Chevron from a “c” rating to a “b-” rating in a research note on Friday, July 30th. Finally, Truist Securities lifted their price objective on shares of Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $121.23.

NYSE CVX opened at $117.19 on Thursday. Chevron Co. has a 52-week low of $83.53 and a 52-week high of $118.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.28. The company has a market capitalization of $225.91 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a fifty day moving average of $109.21 and a 200-day moving average of $104.90.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.75. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The company had revenue of $44.71 billion during the quarter, compared to the consensus estimate of $40.89 billion. During the same period in the previous year, the firm posted $0.11 EPS. The firm’s revenue was up 82.9% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 8.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Thursday, November 18th will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Wednesday, November 17th. Chevron’s dividend payout ratio is presently 103.47%.

In other Chevron news, VP R. Hewitt Pate sold 39,000 shares of the business’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $115.04, for a total value of $4,486,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 52,500 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $113.79, for a total transaction of $5,973,975.00. The disclosure for this sale can be found here. Insiders sold 325,651 shares of company stock valued at $37,293,688 over the last three months. 0.29% of the stock is currently owned by insiders.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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