Bank of Hawaii Sells 601 Shares of Chevron Co. (NYSE:CVX)

Bank of Hawaii lessened its stake in shares of Chevron Co. (NYSE:CVX) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,184 shares of the oil and gas company’s stock after selling 601 shares during the quarter. Bank of Hawaii’s holdings in Chevron were worth $4,298,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Douglass Winthrop Advisors LLC boosted its position in Chevron by 4.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company’s stock valued at $3,963,000 after purchasing an additional 1,233 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Chevron by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 291,083 shares of the oil and gas company’s stock valued at $42,867,000 after buying an additional 24,916 shares in the last quarter. Garner Asset Management Corp grew its position in shares of Chevron by 19.9% in the 3rd quarter. Garner Asset Management Corp now owns 23,984 shares of the oil and gas company’s stock worth $3,532,000 after buying an additional 3,987 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its stake in shares of Chevron by 12.8% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 35,861 shares of the oil and gas company’s stock worth $5,281,000 after acquiring an additional 4,083 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.5 %

NYSE CVX opened at $162.36 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $291.78 billion, a PE ratio of 17.84, a P/E/G ratio of 3.58 and a beta of 1.09. The company has a fifty day moving average of $151.58 and a 200 day moving average of $152.55.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 EPS. Research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

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.