WASHINGTON TRUST Co Sells 928 Shares of Chevron Corporation (NYSE:CVX)

by · The Markets Daily

WASHINGTON TRUST Co lessened its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,154 shares of the oil and gas company’s stock after selling 928 shares during the period. WASHINGTON TRUST Co’s holdings in Chevron were worth $2,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkeley Capital Partners LLC boosted its holdings in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Chevron by 6.1% in 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 in the last quarter. CoreCap Advisors LLC grew its position in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Fairscale Capital LLC increased its stake in Chevron by 11.5% during the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 73 shares in the last quarter. Finally, Austin Wealth Management LLC raised its holdings in Chevron by 3.2% in the fourth quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company’s stock worth $342,000 after buying an additional 74 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $160.29.

Get Our Latest Stock Report on CVX

Chevron Stock Down 0.4%

NYSE CVX opened at $143.87 on Monday. The stock’s 50-day moving average price is $140.20 and its 200-day moving average price is $148.17. The company has a market capitalization of $251.26 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.52 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 Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.93 EPS. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current 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 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 4.75%. Chevron’s payout ratio 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.

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