Canandaigua National Bank & Trust Co. Sells 5,083 Shares of Chevron Co. (NYSE:CVX)

Canandaigua National Bank & Trust Co. decreased its stake in Chevron Co. (NYSE:CVX) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,310 shares of the oil and gas company’s stock after selling 5,083 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Chevron were worth $7,432,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lantz Financial LLC increased its holdings in Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after acquiring an additional 623 shares during the last quarter. Umpqua Bank lifted its stake in shares of Chevron by 5.7% during the 2nd quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock valued at $3,101,000 after buying an additional 1,078 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Chevron by 4,325.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares in the last quarter. Chris Bulman Inc bought a new stake in shares of Chevron during the 2nd quarter valued at $76,000. Finally, Delta Financial Advisors LLC grew its holdings in Chevron by 32.1% during the 2nd quarter. Delta Financial Advisors LLC now owns 20,231 shares of the oil and gas company’s stock valued at $3,165,000 after buying an additional 4,921 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CVX shares. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.19.

Chevron Trading Down 0.5 %

Shares of Chevron stock traded down $0.75 on Monday, hitting $147.10. The stock had a trading volume of 5,849,564 shares, compared to its average volume of 5,926,819. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock’s 50-day simple moving average is $153.67 and its two-hundred day simple moving average is $151.21. The stock has a market cap of $264.35 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.43%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.