Whittier Trust Co. of Nevada Inc. Has $52.89 Million Holdings in Chevron Corporation (NYSE:CVX)

Whittier Trust Co. of Nevada Inc. lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 29.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 316,149 shares of the oil and gas company's stock after acquiring an additional 71,479 shares during the quarter. Chevron makes up about 1.3% of Whittier Trust Co. of Nevada Inc.'s holdings, making the stock its 13th biggest holding. Whittier Trust Co. of Nevada Inc.'s holdings in Chevron were worth $52,888,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Whittier Trust Co. lifted its position in shares of Chevron by 1.5% in the 1st quarter. Whittier Trust Co. now owns 383,842 shares of the oil and gas company's stock valued at $64,212,000 after acquiring an additional 5,658 shares in the last quarter. BluePointe Capital Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $230,000. Prevail Innovative Wealth Advisors LLC lifted its position in shares of Chevron by 144.8% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 5,488 shares of the oil and gas company's stock valued at $918,000 after acquiring an additional 3,246 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in Chevron by 62.2% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 13,750 shares of the oil and gas company's stock valued at $2,300,000 after buying an additional 5,275 shares during the period. Finally, Hager Investment Management Services LLC increased its stake in Chevron by 3.9% in the 1st quarter. Hager Investment Management Services LLC now owns 3,249 shares of the oil and gas company's stock valued at $544,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 1.7%

Shares of CVX traded down $2.61 during mid-day trading on Friday, hitting $148.77. 29,042,282 shares of the company's stock were exchanged, compared to its average volume of 8,471,467. The firm has a fifty day moving average of $143.81 and a two-hundred day moving average of $148.61. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $259.81 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.60%. Chevron's payout ratio is presently 78.17%.

Analysts Set New Price Targets

Several research firms have weighed in on CVX. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday. Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note 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 note on Tuesday, May 6th. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $161.31.

About Chevron

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.