Cambridge Trust Co. Buys 187 Shares of Chevron Co. (NYSE:CVX)

Cambridge Trust Co. grew its stake in Chevron Co. (NYSE:CVX – Get Rating) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 112,915 shares of the oil and gas company’s stock after purchasing an additional 187 shares during the quarter. Cambridge Trust Co.’s holdings in Chevron were worth $20,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWA Asset Management Group LLC lifted its holdings in shares of Chevron by 4.6% during the fourth quarter. CWA Asset Management Group LLC now owns 11,845 shares of the oil and gas company’s stock valued at $2,126,000 after purchasing an additional 521 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Chevron by 0.4% during the fourth quarter. Radnor Capital Management LLC now owns 20,728 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 75 shares in the last quarter. Parkside Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at $272,000. Brookstone Capital Management lifted its holdings in shares of Chevron by 5.1% during the fourth quarter. Brookstone Capital Management now owns 125,386 shares of the oil and gas company’s stock valued at $22,138,000 after purchasing an additional 6,044 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its holdings in shares of Chevron by 6.9% during the fourth quarter. Pure Financial Advisors LLC now owns 6,699 shares of the oil and gas company’s stock valued at $1,202,000 after purchasing an additional 434 shares in the last quarter. 69.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cowen lowered their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Raymond James lowered their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. Barclays increased their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Wells Fargo & Company lowered their target price on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Finally, Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and increased their target price for the company from $190.00 to $191.00 in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $189.50.

Chevron Stock Performance

NYSE:CVX opened at $152.34 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The stock has a 50-day moving average price of $169.06 and a 200 day moving average price of $169.38. The stock has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.76 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The business had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same quarter in the prior year, the business posted $2.56 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 14.87 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.96%. The ex-dividend date was Wednesday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is currently 33.04%.

Chevron declared that its board has authorized a stock repurchase plan on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares in the company, valued at approximately $674,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.