Whittier Trust Co. Sells 626 Shares of Chevron Co. (NYSE:CVX)

Whittier Trust Co. reduced its stake in Chevron Co. (NYSE:CVX) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 382,426 shares of the oil and gas company’s stock after selling 626 shares during the period. Chevron makes up 0.8% of Whittier Trust Co.’s portfolio, making the stock its 24th largest holding. Whittier Trust Co.’s holdings in Chevron were worth $56,319,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. lifted its holdings in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC grew its holdings in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares during the period. Finally, Mayfair Advisory Group LLC lifted its position in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

CVX opened at $150.84 on Tuesday. The business’s 50-day simple moving average is $146.19 and its 200-day simple moving average is $153.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $275.87 billion, a P/E ratio of 14.93, a PEG ratio of 2.73 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $173.07.

About Chevron

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.