30,337 Shares in Chevron Corporation $CVX Purchased by Montecito Bank & Trust

Montecito Bank & Trust bought a new stake in shares of Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,337 shares of the oil and gas company’s stock, valued at approximately $4,711,000.

A number of other hedge funds have also recently modified their holdings of the business. Algert Global LLC grew its position in Chevron by 22.7% in the 1st quarter. Algert Global LLC now owns 3,692 shares of the oil and gas company’s stock valued at $618,000 after acquiring an additional 682 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Chevron during the first quarter worth $1,011,000. JT Stratford LLC boosted its stake in shares of Chevron by 17.4% during the first quarter. JT Stratford LLC now owns 2,997 shares of the oil and gas company’s stock valued at $501,000 after purchasing an additional 445 shares during the period. Erste Asset Management GmbH grew its holdings in shares of Chevron by 33.4% in the first quarter. Erste Asset Management GmbH now owns 36,331 shares of the oil and gas company’s stock worth $6,083,000 after purchasing an additional 9,102 shares during the last quarter. Finally, Tradition Wealth Management LLC grew its holdings in shares of Chevron by 3.8% in the first quarter. Tradition Wealth Management LLC now owns 9,228 shares of the oil and gas company’s stock worth $1,544,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Mizuho boosted their price target on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $166.00.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Chevron Price Performance

NYSE CVX opened at $149.46 on Thursday. The company has a market cap of $300.93 billion, a PE ratio of 21.02, a P/E/G ratio of 8.72 and a beta of 0.68. The firm’s 50 day moving average price is $152.41 and its 200-day moving average price is $152.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the prior year, the business posted $2.48 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

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.