Dorsey & Whitney Trust CO LLC Acquires 2,572 Shares of Chevron Corporation $CVX

Key Points

• Dorsey & Whitney Trust CO LLC increased its stake in Chevron Corporation by 13.3%, owning 21,870 shares worth $3.66 million after acquiring 2,572 additional shares in the first quarter.
• Chemical firm Chevron Corporation reported $1.77 earnings per share for the quarter, exceeding estimates, but noted a 12.4% decline in revenue compared to the previous year.
• Chevron has announced a quarterly dividend of $1.71 per share, resulting in an annual yield of 4.5% and a payout ratio of 88.03%.

Dorsey & Whitney Trust CO LLC raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,870 shares of the oil and gas company's stock after buying an additional 2,572 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in Chevron were worth $3,659,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Chevron by 7.9% during the fourth 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 purchasing an additional 2,641 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $17,554,000. Alta Advisers Ltd boosted its position in shares of Chevron by 19.8% during the fourth quarter. Alta Advisers Ltd now owns 5,629 shares of the oil and gas company's stock valued at $815,000 after purchasing an additional 929 shares in the last quarter. Finally, Quantessence Capital LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $5,329,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Morgan Stanley began coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a report on Friday, August 1st. TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Scotiabank reissued a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and an average price target of $163.95.

Chevron Stock Up 1.5%

Chevron stock traded up $2.3470 during mid-day trading on Friday, hitting $157.8970. The company had a trading volume of 9,080,229 shares, compared to its average volume of 8,166,027. The company has a market capitalization of $272.84 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock's 50 day moving average price is $151.21 and its two-hundred day moving average price is $148.66.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

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.