Chevron Corporation (NYSE:CVX) Shares Purchased by Private Trust Co. NA

by · The Cerbat Gem

Private Trust Co. NA boosted its position in Chevron Corporation (NYSE:CVX – Free Report) by 4.1% in the first quarter, Holdings Channel.com reports. The firm owned 31,476 shares of the oil and gas company’s stock after acquiring an additional 1,251 shares during the quarter. Chevron makes up about 0.5% of Private Trust Co. NA’s holdings, making the stock its 27th largest position. Private Trust Co. NA’s holdings in Chevron were worth $5,266,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Mainstream Capital Management LLC lifted its stake in shares of Chevron by 7.0% in the first quarter. Mainstream Capital Management LLC now owns 6,377 shares of the oil and gas company’s stock valued at $1,067,000 after purchasing an additional 419 shares during the period. Alley Investment Management Company LLC lifted its stake in shares of Chevron by 0.5% in the first quarter. Alley Investment Management Company LLC now owns 113,014 shares of the oil and gas company’s stock valued at $18,906,000 after purchasing an additional 515 shares during the period. Kanawha Capital Management LLC lifted its position in shares of Chevron by 0.9% during the 1st quarter. Kanawha Capital Management LLC now owns 111,359 shares of the oil and gas company’s stock valued at $18,629,000 after acquiring an additional 993 shares during the period. Moody Lynn & Lieberson LLC lifted its position in shares of Chevron by 8.9% during the 1st quarter. Moody Lynn & Lieberson LLC now owns 78,976 shares of the oil and gas company’s stock valued at $13,212,000 after acquiring an additional 6,472 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its position in shares of Chevron by 4.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 9,223 shares of the oil and gas company’s stock valued at $1,543,000 after acquiring an additional 363 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. DZ Bank cut 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. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Piper Sandler lifted their price target on Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $160.41.

Get Our Latest Stock Report on Chevron

Chevron Trading Up 1.6%

Shares of CVX stock opened at $147.91 on Thursday. The firm has a 50-day moving average price of $140.78 and a 200 day moving average price of $148.08. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $258.31 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.93 earnings per share. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.62%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Chevron Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).