Inspire Trust Co. N.A. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Inspire Trust Co. N.A. raised its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,200 shares of the oil and gas company’s stock after buying an additional 3,332 shares during the period. Chevron comprises approximately 2.0% of Inspire Trust Co. N.A.’s investment portfolio, making the stock its 8th biggest position. Inspire Trust Co. N.A.’s holdings in Chevron were worth $7,850,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Brown Shipley& Co Ltd purchased a new position in Chevron in the 4th quarter worth about $2,691,000. RB Capital Management LLC boosted its holdings in shares of Chevron by 2.9% in the fourth quarter. RB Capital Management LLC now owns 29,334 shares of the oil and gas company’s stock worth $4,249,000 after buying an additional 827 shares during the period. Pinkerton Retirement Specialists LLC increased its position in shares of Chevron by 3.4% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 29,091 shares of the oil and gas company’s stock worth $4,214,000 after acquiring an additional 962 shares in the last quarter. 49 Wealth Management LLC increased its position in shares of Chevron by 9.9% in the fourth quarter. 49 Wealth Management LLC now owns 4,457 shares of the oil and gas company’s stock worth $646,000 after acquiring an additional 403 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $160.24.

Get Our Latest Stock Analysis on CVX

Chevron Stock Performance

Shares of CVX opened at $135.57 on Thursday. The firm has a market cap of $236.75 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s fifty day moving average is $145.61 and its 200-day moving average is $151.50. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the company posted $2.93 earnings per share. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

About Chevron

(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.

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