Pioneer Trust Bank N A OR Decreases Stock Holdings in Chevron Corporation (NYSE:CVX)

Pioneer Trust Bank N A OR trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,670 shares of the oil and gas company's stock after selling 2,535 shares during the quarter. Chevron accounts for approximately 2.2% of Pioneer Trust Bank N A OR's portfolio, making the stock its 15th largest holding. Pioneer Trust Bank N A OR's holdings in Chevron were worth $8,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter worth $29,000. IFS Advisors LLC increased its holdings in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVX shares. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Piper Sandler boosted their target price on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron Stock Down 2.3%

CVX stock traded down $3.51 on Monday, reaching $151.80. 10,704,141 shares of the company traded hands, compared to its average volume of 9,019,736. The firm has a fifty day simple moving average of $142.62 and a 200-day simple moving average of $148.47. The company has a market cap of $265.10 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) 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.