Bank of New Hampshire Sells 6,808 Shares of Chevron Co. (NYSE:CVX)

Bank of New Hampshire lessened its stake in Chevron Co. (NYSE:CVX) by 31.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,987 shares of the oil and gas company’s stock after selling 6,808 shares during the quarter. Bank of New Hampshire’s holdings in Chevron were worth $2,235,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Picton Mahoney Asset Management bought a new position in Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Legacy Financial Group LLC purchased a new position in Chevron during the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc increased its holdings in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.26 during midday trading on Friday, hitting $165.02. 5,057,125 shares of the stock were exchanged, compared to its average volume of 8,419,017. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $156.35 and a 200-day moving average price of $151.84. The stock has a market cap of $306.49 billion, a P/E ratio of 14.42, a PEG ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.13). Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Truist Financial cut 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. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.