Chevron Corporation (NYSE:CVX) Shares Acquired by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,492 shares of the oil and gas company’s stock after acquiring an additional 966 shares during the period. Chevron accounts for approximately 0.9% of Burke & Herbert Bank & Trust Co.’s portfolio, making the stock its 23rd biggest holding. Burke & Herbert Bank & Trust Co.’s holdings in Chevron were worth $3,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC boosted its stake in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of Chevron by 4.6% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,309 shares of the oil and gas company’s stock valued at $334,000 after purchasing an additional 101 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Chevron by 59.5% in the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock valued at $847,000 after purchasing an additional 2,182 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $760,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $148.23 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50 day moving average is $141.16 and its two-hundred day moving average is $148.07. The company has a market capitalization of $258.86 billion, a PE ratio of 16.94, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last posted 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 return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.61%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVX shares. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Piper Sandler lifted their price objective on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $160.41.

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.