Chevron Co. (NYSE:CVX) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 378,184 shares of the oil and gas company's stock after selling 4,242 shares during the period. Chevron accounts for approximately 0.7% of Whittier Trust Co.'s holdings, making the stock its 26th biggest position. Whittier Trust Co.'s holdings in Chevron were worth $54,776,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the 3rd quarter worth about $30,000. Finally, Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVX shares. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Remove Ads

Chevron Stock Down 0.2 %

CVX stock traded down $0.40 during midday trading on Friday, hitting $164.37. The stock had a trading volume of 21,579,196 shares, compared to its average volume of 7,336,455. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50-day moving average of $156.29 and a two-hundred day moving average of $152.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company posted $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.16%. Chevron's payout ratio is 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business'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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company 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.