Plimoth Trust Co. LLC Sells 4,515 Shares of Chevron Corporation (NYSE:CVX)

Plimoth Trust Co. LLC lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,629 shares of the oil and gas company's stock after selling 4,515 shares during the period. Chevron accounts for about 1.4% of Plimoth Trust Co. LLC's holdings, making the stock its 16th largest holding. Plimoth Trust Co. LLC's holdings in Chevron were worth $5,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Capital & Planning LLC lifted its position in Chevron by 15.2% in the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.7% in 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 purchasing an additional 242 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Chevron in 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 valued at $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its position 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 valued at $775,000 after buying an additional 3,639 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.67 during trading on Thursday, hitting $148.18. The company had a trading volume of 9,824,086 shares, compared to its average volume of 8,222,007. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $258.78 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. The stock has a 50 day simple moving average of $138.82 and a 200 day simple moving average of $148.90.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. Chevron's payout ratio is 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.