Comerica Bank Sells 16,554 Shares of Chevron Co. (NYSE:CVX)

Comerica Bank lowered its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 834,743 shares of the oil and gas company's stock after selling 16,554 shares during the quarter. Comerica Bank's holdings in Chevron were worth $120,904,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank bought a new stake in Chevron in the fourth quarter valued at $3,017,750,000. Northern Trust Corp boosted its holdings in shares of Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $165.27.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % 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 company insiders.

Chevron Stock Performance

CVX stock traded up $2.27 during mid-day trading on Friday, reaching $138.53. 12,386,040 shares of the stock traded hands, compared to its average volume of 7,984,073. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $150.11 and a two-hundred day moving average of $152.59. The firm has a market capitalization of $243.90 billion, a PE ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the company posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron's payout ratio is presently 70.37%.

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.