Chevron Corporation (NYSE:CVX) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,666 shares of the oil and gas company's stock after selling 2,526 shares during the period. Trust Co. of Vermont's holdings in Chevron were worth $17,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Eagle Capital Management LLC raised its position in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in 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 worth $5,212,000 after buying an additional 2,641 shares during the last quarter. NewEdge Wealth LLC grew its stake in Chevron by 2.1% during the 4th quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company's stock worth $8,296,000 after buying an additional 1,153 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company's stock worth $122,741,000 after buying an additional 843,756 shares during the last quarter. Finally, CORDA Investment Management LLC. grew its stake in Chevron by 24.0% during the 4th quarter. CORDA Investment Management LLC. now owns 13,806 shares of the oil and gas company's stock worth $2,000,000 after buying an additional 2,670 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CVX shares. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and an average target price of $160.29.

Chevron Trading Down 0.4%

Shares of CVX stock opened at $143.87 on Friday. The stock has a 50-day simple moving average of $140.20 and a 200 day simple moving average of $148.27. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $251.26 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.54 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the business posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.75%. Chevron's dividend payout ratio is currently 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.

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