Norway Savings Bank Purchases 930 Shares of Chevron Co. (NYSE:CVX)

Norway Savings Bank boosted its position in Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,401 shares of the oil and gas company’s stock after purchasing an additional 930 shares during the quarter. Norway Savings Bank’s holdings in Chevron were worth $1,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Demars Financial Group LLC acquired a new position in shares of Chevron during the second quarter valued at about $32,000. BNC Wealth Management LLC acquired a new position in shares of Chevron during the third quarter valued at about $33,000. Kathmere Capital Management LLC acquired a new position in shares of Chevron during the third quarter valued at about $33,000. Evolution Wealth Advisors LLC increased its holdings in shares of Chevron by 136.4% during the third quarter. Evolution Wealth Advisors LLC now owns 636 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 367 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in shares of Chevron by 36.0% during the third quarter. Toth Financial Advisory Corp now owns 756 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 62.27% of the company’s stock.

Shares of CVX stock opened at $93.25 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97. The company has a market cap of $174.13 billion, a price-to-earnings ratio of -15.19, a PEG ratio of 6.13 and a beta of 1.33. The stock has a 50 day simple moving average of $89.04 and a 200-day simple moving average of $83.07. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $117.29.

Chevron (NYSE:CVX) last announced its earnings results on Wednesday, November 4th. The oil and gas company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.38. The business had revenue of $24.45 billion during the quarter, compared to the consensus estimate of $26.34 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The business’s quarterly revenue was down 32.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. Analysts anticipate that Chevron Co. will post -0.09 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on CVX shares. Smith Barney Citigroup upped their price objective on shares of Chevron from $69.00 to $90.00 in a report on Wednesday, December 9th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 target price on the stock. in a research report on Wednesday, September 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $95.00 target price on shares of Chevron in a research report on Tuesday, November 17th. Zacks Investment Research upgraded Chevron from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a research report on Tuesday, December 15th. Finally, Piper Sandler upgraded Chevron from a “neutral” rating to an “overweight” rating and upped their target price for the company from $108.00 to $113.00 in a research report on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. Chevron presently has an average rating of “Buy” and an average target price of $103.00.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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