Chevron Co. (NYSE:CVX) Stake Increased by Colonial Trust Co SC

Colonial Trust Co SC lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,540 shares of the oil and gas company's stock after acquiring an additional 3,216 shares during the period. Colonial Trust Co SC's holdings in Chevron were worth $5,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. CoreCap Advisors LLC increased its holdings in shares of Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after buying an additional 71 shares in the last quarter. Cornerstone Select Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at approximately $2,838,000. Crestline Management LP boosted its holdings in shares of Chevron by 253.6% during the 4th quarter. Crestline Management LP now owns 52,327 shares of the oil and gas company's stock worth $7,579,000 after buying an additional 37,528 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Chevron by 2.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 476,163 shares of the oil and gas company's stock valued at $68,967,000 after acquiring an additional 11,290 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Chevron by 5.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 128,262 shares of the oil and gas company's stock worth $18,578,000 after acquiring an additional 7,021 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday. Redburn Atlantic reissued a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $161.25.

Chevron Stock Performance

CVX stock opened at $135.87 on Wednesday. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a 50-day moving average price of $148.95 and a 200 day moving average price of $152.34. The company has a market capitalization of $239.22 billion, a P/E ratio of 13.98, a PEG ratio of 1.46 and a beta of 0.83. 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 released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. Chevron's payout ratio is 78.17%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.

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