Intrust Bank NA Has $4.74 Million Stake in Chevron Co. (NYSE:CVX)

Intrust Bank NA cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,748 shares of the oil and gas company’s stock after selling 711 shares during the period. Intrust Bank NA’s holdings in Chevron were worth $4,736,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in 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 purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $33,000. Legacy Financial Group LLC bought a new position in shares of Chevron in the third quarter worth about $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $0.44 during mid-day trading on Monday, reaching $166.33. The stock had a trading volume of 6,230,751 shares, compared to its average volume of 8,435,764. The firm has a 50 day moving average price of $156.58 and a two-hundred day moving average price of $151.66. The stock has a market capitalization of $308.92 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.55 earnings per share. As a group, analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.92%. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Wells Fargo & Company increased their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.25.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.