Plimoth Trust Co. LLC Sells 1,389 Shares of Chevron Co. (NYSE:CVX)

Plimoth Trust Co. LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,144 shares of the oil and gas company’s stock after selling 1,389 shares during the period. Chevron comprises approximately 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 15th largest holding. Plimoth Trust Co. LLC’s holdings in Chevron were worth $5,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter valued at $29,000. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter worth about $31,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Chevron in the third quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.79 on Thursday. The company’s fifty day moving average price is $153.67 and its 200-day moving average price is $151.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $279.97 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group upped their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Company 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.