Whittier Trust Co. Sells 36,284 Shares of Chevron Corporation $CVX

Whittier Trust Co. lessened its position in shares of Chevron Corporation (NYSE:CVX) by 8.4% in the 1st quarter, HoldingsChannel reports. The fund owned 396,607 shares of the oil and gas company’s stock after selling 36,284 shares during the period. Chevron makes up about 0.9% of Whittier Trust Co.’s portfolio, making the stock its 22nd largest holding. Whittier Trust Co.’s holdings in Chevron were worth $78,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. D.B. Root & Company LLC raised its position in shares of Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the last quarter. Chatterton & Associates Inc. increased its stake in Chevron by 1.7% during the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 57 shares in the last quarter. First United Bank & Trust raised its holdings in shares of Chevron by 0.5% in the first quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company’s stock worth $2,593,000 after buying an additional 57 shares during the last quarter. Fox Hill Wealth Management lifted its stake in shares of Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after buying an additional 57 shares during the period. Finally, Hunter Associates Investment Management LLC grew its holdings in shares of Chevron by 0.3% during the first quarter. Hunter Associates Investment Management LLC now owns 23,002 shares of the oil and gas company’s stock valued at $4,761,000 after buying an additional 58 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVX shares. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, March 20th. Mizuho upped their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. TD Cowen raised their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Performance

CVX traded up $4.17 on Tuesday, reaching $172.27. The stock had a trading volume of 1,531,392 shares, compared to its average volume of 11,593,914. The business’s 50-day moving average price is $183.31 and its two-hundred day moving average price is $180.61. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market cap of $343.09 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.57 and a beta of 0.50.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. Sell-side analysts forecast that Chevron Corporation will post 15.52 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.