Chevron Corporation $CVX Shares Bought by Diversified Trust Co

Key Points

• Diversified Trust Co increased its Chevron stake by 44% in the first quarter, buying an additional 20,720 shares and lifting its position to 67,811 shares worth about $14.0 million.
• Chevron reported Q1 EPS of $1.41, beating estimates, though revenue of $47.56 billion came in below expectations. Analysts still see the stock as a Moderate Buy overall, with a consensus target price of $205.70.
• The company paid a quarterly dividend of $1.78 per share, equal to an annualized yield of about 4.1%. The article also notes notable insider selling, including Director John B. Hess selling 380,000 shares.

Diversified Trust Co grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,811 shares of the oil and gas company's stock after buying an additional 20,720 shares during the period. Diversified Trust Co's holdings in Chevron were worth $14,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Dakota Wealth Management boosted its position in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after buying an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new stake in shares of Chevron in the third quarter valued at about $431,000. Clear Trail Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust raised its holdings in shares of Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after buying an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC acquired a new position in Chevron during the 4th quarter worth approximately $1,381,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Sanford C. Bernstein decreased their price target on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Barclays boosted their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $205.70.

Chevron Stock Down 0.1%

CVX stock opened at $173.51 on Monday. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The firm has a 50 day simple moving average of $186.63 and a 200-day simple moving average of $179.20.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Insider Activity

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by corporate insiders.

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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