Bank of New Hampshire Sells 313 Shares of Chevron Co. (NYSE:CVX)

Bank of New Hampshire reduced its stake in Chevron Co. (NYSE:CVX) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,508 shares of the oil and gas company’s stock after selling 313 shares during the quarter. Bank of New Hampshire’s holdings in Chevron were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial raised their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.19.

Chevron Stock Performance

Chevron stock traded up $0.80 during midday trading on Tuesday, hitting $148.06. The stock had a trading volume of 988,678 shares, compared to its average volume of 4,945,877. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market capitalization of $266.08 billion, a PE ratio of 16.27, a P/E/G ratio of 2.93 and a beta of 1.12. The firm’s fifty day moving average is $153.60 and its two-hundred day moving average is $151.14. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during 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 period in the prior year, the company posted $3.05 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

About Chevron

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.