TrinityPoint Wealth LLC Trims Stake in Chevron Co. (NYSE:CVX)

TrinityPoint Wealth LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,114 shares of the oil and gas company's stock after selling 2,498 shares during the period. TrinityPoint Wealth LLC's holdings in Chevron were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Allianz SE purchased a new position in shares of Chevron in the 4th quarter worth approximately $9,369,000. Nicholas Company Inc. boosted its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC increased its position in shares of Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after purchasing an additional 2,755 shares in the last quarter. Cerity Partners LLC increased its position in shares of Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after purchasing an additional 52,307 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of Chevron by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock valued at $17,101,000 after purchasing an additional 7,557 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.9%

Chevron stock traded down $1.28 during midday trading on Tuesday, hitting $137.21. 6,470,687 shares of the stock were exchanged, compared to its average volume of 8,038,407. 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 stock has a market capitalization of $239.62 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50-day simple moving average is $146.37 and its 200 day simple moving average is $151.71. 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 released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. 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 research note on Tuesday, May 13th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

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.