Cambridge Trust Co. Boosts Holdings in Chevron Co. (NYSE:CVX)

Cambridge Trust Co. boosted its stake in Chevron Co. (NYSE:CVX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,207 shares of the oil and gas company’s stock after acquiring an additional 388 shares during the period. Cambridge Trust Co.’s holdings in Chevron were worth $17,333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after buying an additional 458,080 shares during the period. Morgan Stanley grew its position in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after acquiring an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. raised its position in Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after purchasing an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron Price Performance

Shares of CVX stock traded up $0.68 during trading hours on Thursday, hitting $157.08. The company’s stock had a trading volume of 2,681,728 shares, compared to its average volume of 8,498,077. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The stock has a market cap of $291.74 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 2.30 and a beta of 1.12. The business has a fifty day moving average of $155.19 and a 200-day moving average of $151.86.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.09 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.