Berkshire Bank Sells 979 Shares of Chevron Co. (NYSE:CVX)

Berkshire Bank decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,051 shares of the oil and gas company’s stock after selling 979 shares during the period. Berkshire Bank’s holdings in Chevron were worth $2,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P increased its position in shares of Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC boosted its stake in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the period. GQG Partners LLC boosted its stake in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares during the period. Lumature Wealth Partners LLC boosted its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares during the period. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

CVX opened at $159.82 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $296.83 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.42 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company’s 50-day moving average price is $152.56 and its two-hundred day moving average price is $152.41.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research note on Tuesday, January 16th. Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Finally, UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Company 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.