Parkside Financial Bank & Trust Has $2.13 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Parkside Financial Bank & Trust grew its stake in Chevron Co. (NYSE:CVX) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,260 shares of the oil and gas company’s stock after buying an additional 1,838 shares during the period. Parkside Financial Bank & Trust’s holdings in Chevron were worth $2,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley boosted its stake in Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares during the last quarter. Northern Trust Corp increased its position in Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after acquiring an additional 62,254 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE:CVX traded up $0.22 during mid-day trading on Wednesday, reaching $163.07. The stock had a trading volume of 1,331,037 shares, compared to its average volume of 8,363,592. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a market capitalization of $302.87 billion, a PE ratio of 14.27, a P/E/G ratio of 2.38 and a beta of 1.12. The stock has a 50-day simple moving average of $155.88 and a two-hundred day simple moving average of $151.66.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Mizuho raised their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company raised their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity

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

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.