Grove Bank & Trust Has $3.75 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Grove Bank & Trust raised its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,391 shares of the oil and gas company's stock after purchasing an additional 2,726 shares during the quarter. Grove Bank & Trust's holdings in Chevron were worth $3,746,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CVX. Capital & Planning LLC lifted its holdings in Chevron by 15.2% during the 4th 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 during the last quarter. Eagle Capital Management LLC lifted its holdings 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 worth $5,011,000 after buying an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Chevron during the fourth quarter worth $8,947,000. Bank Pictet & Cie Europe AG lifted its holdings 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 worth $5,212,000 after buying an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Chevron by 212.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company's stock worth $775,000 after buying an additional 3,639 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 0.1%

Shares of NYSE CVX opened at $146.07 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50-day moving average price of $138.72 and a two-hundred day moving average price of $148.91.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate 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 business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.93 earnings per share. As a group, analysts forecast 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 was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three 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.com, Chevron presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Company 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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