Rockland Trust Co. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Rockland Trust Co. lessened its position in Chevron Co. (NYSE:CVX - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,152 shares of the oil and gas company's stock after selling 2,327 shares during the quarter. Rockland Trust Co.'s holdings in Chevron were worth $4,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. TFB Advisors LLC lifted its stake in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its position in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the last quarter. Berkeley Capital Partners LLC boosted its stake in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after purchasing an additional 67 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its position in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock worth $171,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

CVX stock traded up $0.77 during midday trading on Friday, hitting $145.74. 14,126,704 shares of the stock were exchanged, compared to its average volume of 8,174,571. The stock's 50-day moving average price is $138.35 and its 200-day moving average price is $149.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. 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 business's revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's 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.