Chevron Co. (NYSE:CVX) Shares Bought by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Chevron Co. (NYSE:CVX) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,859 shares of the oil and gas company’s stock after acquiring an additional 484 shares during the period. Chevron makes up approximately 1.2% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 16th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Chevron were worth $4,551,000 at the end of the most recent quarter.

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

Shares of CVX traded up $0.89 during mid-day trading on Thursday, hitting $117.19. The company had a trading volume of 8,500,870 shares, compared to its average volume of 10,450,242. The business’s 50-day simple moving average is $109.21 and its 200-day simple moving average is $104.90. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27. Chevron Co. has a 1-year low of $83.53 and a 1-year high of $118.08. The stock has a market cap of $225.91 billion, a PE ratio of 22.62, a P/E/G ratio of 2.42 and a beta of 1.30.

Chevron (NYSE:CVX) last released its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.75. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The business had revenue of $44.71 billion for the quarter, compared to analysts’ expectations of $40.89 billion. During the same period last year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 82.9% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 8.35 earnings per share for the current 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 given a dividend of $1.34 per share. The ex-dividend date is Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a yield of 4.57%. Chevron’s dividend payout ratio (DPR) is 103.47%.

Several brokerages have recently issued reports on CVX. Truist upped their target price on shares of Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Morgan Stanley upped their target price on shares of Chevron from $149.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, November 19th. TheStreet upgraded shares of Chevron from a “c” rating to a “b-” rating in a research note on Friday, July 30th. UBS Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Monday, November 15th. Finally, Truist Securities increased their price target on shares of Chevron from $145.00 to $150.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Buy” and a consensus price target of $121.23.

In related news, VP Colin E. Parfitt sold 15,000 shares of Chevron stock in a transaction on Friday, October 29th. The shares were sold at an average price of $115.01, for a total value of $1,725,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $112.01, for a total transaction of $627,256.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,651 shares of company stock worth $37,293,688. 0.29% of the stock is currently owned by corporate insiders.

Chevron Profile

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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