Washington Trust Bank Sells 135 Shares of Chevron Co. (NYSE:CVX)

Washington Trust Bank lowered its holdings in Chevron Co. (NYSE:CVXFree Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,553 shares of the oil and gas company’s stock after selling 135 shares during the period. Washington Trust Bank’s holdings in Chevron were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Financial Bankshares Inc acquired a new position in Chevron during the fourth quarter valued at approximately $94,515,000. Vista Investment Management boosted its holdings in shares of Chevron by 14.7% in the 4th quarter. Vista Investment Management now owns 7,733 shares of the oil and gas company’s stock valued at $1,153,000 after buying an additional 993 shares during the last quarter. Rench Wealth Management Inc. grew its stake in shares of Chevron by 1.5% in the fourth quarter. Rench Wealth Management Inc. now owns 23,364 shares of the oil and gas company’s stock valued at $3,485,000 after buying an additional 349 shares in the last quarter. Hancock Whitney Corp increased its holdings in Chevron by 1.1% during the fourth quarter. Hancock Whitney Corp now owns 95,837 shares of the oil and gas company’s stock worth $14,295,000 after buying an additional 1,000 shares during the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth $17,659,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial increased their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

View Our Latest Research Report on CVX

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of NYSE CVX traded down $0.25 during midday trading on Tuesday, reaching $156.49. The company’s stock had a trading volume of 5,131,394 shares, compared to its average volume of 8,014,110. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $288.41 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.32 and a beta of 1.12. The business’s 50 day moving average price is $160.47 and its two-hundred day moving average price is $153.66. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron 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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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