Chevron Co. (NYSE:CVX) Shares Bought by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its position in Chevron Co. (NYSE:CVX) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,533 shares of the oil and gas company’s stock after purchasing an additional 199 shares during the quarter. Chevron makes up 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 19th largest position. Plimoth Trust Co. LLC’s holdings in Chevron were worth $5,675,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cherrydale Wealth Management LLC purchased a new stake in Chevron during the first quarter worth approximately $223,000. Westend Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $119,000. Steph & Co. grew its position in shares of Chevron by 19.0% in the 1st quarter. Steph & Co. now owns 5,777 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 922 shares during the last quarter. Game Plan Financial Advisors LLC acquired a new stake in Chevron during the 1st quarter worth $1,437,000. Finally, Northwest Investment Counselors LLC lifted its position in Chevron by 8.2% in the first quarter. Northwest Investment Counselors LLC now owns 2,261 shares of the oil and gas company’s stock valued at $357,000 after acquiring an additional 171 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $150.84 on Tuesday. The company has a market cap of $275.87 billion, a P/E ratio of 14.93, a price-to-earnings-growth 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. The business has a fifty day moving average of $146.19 and a two-hundred day moving average of $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.

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

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $173.07.

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.