Fiduciary Trust Co Decreases Position in Chevron Co. (NYSE:CVX)

Fiduciary Trust Co reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,172 shares of the oil and gas company's stock after selling 8,557 shares during the quarter. Fiduciary Trust Co's holdings in Chevron were worth $23,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC lifted its position in shares of Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company's stock worth $596,000 after purchasing an additional 168 shares during the last quarter. CJM Wealth Advisers Ltd. raised its holdings in Chevron by 5.1% during the fourth quarter. CJM Wealth Advisers Ltd. now owns 2,901 shares of the oil and gas company's stock worth $420,000 after purchasing an additional 140 shares during the last quarter. First International Bank & Trust raised its holdings in Chevron by 50.9% during the fourth quarter. First International Bank & Trust now owns 3,162 shares of the oil and gas company's stock worth $458,000 after purchasing an additional 1,066 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Chevron by 17.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,038,871 shares of the oil and gas company's stock worth $152,995,000 after purchasing an additional 157,272 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of Chevron by 49.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 20,607 shares of the oil and gas company's stock worth $2,985,000 after purchasing an additional 6,822 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Redburn Atlantic reiterated 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 reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of "Hold" and an average target price of $160.24.

Chevron Stock Up 0.9%

Shares of CVX stock traded up $1.22 during mid-day trading on Tuesday, reaching $142.84. 4,511,763 shares of the company's stock traded hands, compared to its average volume of 7,990,629. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company's 50-day moving average price is $147.72 and its 200-day moving average price is $152.01. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $251.48 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. On average, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.

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.