First Western Trust Bank decreased its stake in Chevron Co. (NYSE:CVX – Free Report) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,033 shares of the oil and gas company’s stock after selling 1,877 shares during the quarter. First Western Trust Bank’s holdings in Chevron were worth $949,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Berkeley Capital Partners LLC boosted its stake in Chevron by 13.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock valued at $2,255,000 after buying an additional 1,661 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Chevron by 13.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock valued at $12,582,000 after purchasing an additional 9,477 shares during the last quarter. Kooman & Associates raised its position in Chevron by 11.2% in the 2nd quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 158 shares during the last quarter. Reuter James Wealth Management LLC raised its position in Chevron by 30.6% in the 2nd quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock valued at $1,048,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Great Lakes Retirement Inc. raised its position in Chevron by 0.9% in the 2nd quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock valued at $1,226,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Mizuho cut their price objective on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. UBS Group boosted their target price on Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $166.00 to $187.00 in a research report on Monday, July 31st. Morgan Stanley dropped their target price on Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Tuesday, October 24th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.89.
Chevron Trading Up 0.3 %
NYSE:CVX traded up $0.46 on Monday, reaching $144.92. The company’s stock had a trading volume of 3,300,476 shares, compared to its average volume of 8,359,087. Chevron Co. has a 1-year low of $140.74 and a 1-year high of $187.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The firm has a market cap of $273.57 billion, a PE ratio of 10.82, a PEG ratio of 0.73 and a beta of 1.16. The business’s 50-day moving average price is $158.68 and its two-hundred day moving average price is $158.22.
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. Chevron’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the business posted $5.56 EPS. Equities research analysts anticipate that Chevron Co. will post 13.59 earnings per share for the current fiscal year.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is currently 44.84%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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