Chevron Co. (NYSE:CVX) Stock Holdings Decreased by Trivant Custom Portfolio Group LLC

Trivant Custom Portfolio Group LLC cut its holdings in Chevron Co. (NYSE:CVX) by 50.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,933 shares of the oil and gas company’s stock after selling 16,480 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Chevron were worth $2,513,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC bought a new position in Chevron in the 4th quarter worth about $33,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.1 %

Shares of NYSE:CVX opened at $156.42 on Friday. The firm has a fifty day moving average of $159.22 and a two-hundred day moving average of $154.71. The firm has a market capitalization of $288.28 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. On average, equities analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

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

Insider Activity

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Profile

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.