Coastline Trust Co Decreases Stake in Chevron Co. (NYSE:CVX)

Coastline Trust Co trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,174 shares of the oil and gas company's stock after selling 4,684 shares during the quarter. Coastline Trust Co's holdings in Chevron were worth $1,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allianz SE purchased a new stake in Chevron during the fourth quarter valued at approximately $9,369,000. Nicholas Company Inc. grew its stake in Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after buying an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC increased its position in Chevron by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after buying an additional 2,755 shares in the last quarter. Cerity Partners LLC raised its stake in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after buying an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd purchased a new stake in shares of Chevron during the fourth quarter worth about $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company lowered 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. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $165.71.

Chevron Price Performance

CVX stock traded down $1.03 during mid-day trading on Wednesday, reaching $136.27. The company's stock had a trading volume of 6,100,032 shares, compared to its average volume of 7,932,029. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $152.74 and its two-hundred day moving average is $153.22. The stock has a market cap of $239.92 billion, a PE ratio of 14.02, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

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.