CENTRAL TRUST Co Reduces Stake in Chevron Co. (NYSE:CVX)

CENTRAL TRUST Co lessened its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 175,035 shares of the oil and gas company's stock after selling 4,821 shares during the quarter. CENTRAL TRUST Co's holdings in Chevron were worth $29,282,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVX. Capital & Planning LLC lifted its position in Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after purchasing an additional 222 shares in the last quarter. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Chevron during the 4th quarter valued at about $8,947,000. Bank Pictet & Cie Europe AG lifted its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in shares of Chevron by 212.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company's stock valued at $775,000 after acquiring an additional 3,639 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE CVX opened at $146.07 on Tuesday. The stock has a market capitalization of $255.09 billion, a PE ratio of 15.03, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a 50 day simple moving average of $138.72 and a two-hundred day simple moving average of $148.91. 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, May 2nd. The oil and gas company reported $2.18 earnings per share 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 analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.93 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.68%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $160.24.

About Chevron

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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