Webster Bank N. A. Lowers Position in Chevron Co. (NYSE:CVX)

Webster Bank N. A. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,925 shares of the oil and gas company’s stock after selling 326 shares during the period. Webster Bank N. A.’s holdings in Chevron were worth $3,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Chevron by 1.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,862,178 shares of the oil and gas company’s stock valued at $559,398,000 after purchasing an additional 42,215 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of Chevron by 2.4% in the fourth quarter. United Asset Strategies Inc. now owns 82,321 shares of the oil and gas company’s stock worth $11,923,000 after buying an additional 1,941 shares in the last quarter. Cornerstone Wealth Group LLC boosted its stake in Chevron by 3.5% during the fourth quarter. Cornerstone Wealth Group LLC now owns 48,629 shares of the oil and gas company’s stock valued at $7,043,000 after buying an additional 1,648 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Chevron during the 4th quarter valued at approximately $8,947,000. Finally, Apexium Financial LP increased its stake in Chevron by 92.6% in the 4th quarter. Apexium Financial LP now owns 15,659 shares of the oil and gas company’s stock worth $2,268,000 after acquiring an additional 7,527 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX opened at $157.20 on Tuesday. The business has a fifty day moving average of $153.81 and a 200 day moving average of $151.11. The stock has a market cap of $282.50 billion, a P/E ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12. 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 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler reduced their target price 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. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron 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.