Washington Trust Bank Has $1.80 Million Position in Chevron Co. (NYSE:CVX)

Washington Trust Bank cut its holdings in Chevron Co. (NYSE:CVX) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,437 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Washington Trust Bank’s holdings in Chevron were worth $1,801,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Chevron in the fourth quarter worth about $516,000. TD Private Client Wealth LLC lifted its holdings in Chevron by 0.9% during the 4th quarter. TD Private Client Wealth LLC now owns 73,814 shares of the oil and gas company’s stock worth $10,691,000 after buying an additional 666 shares in the last quarter. Lee Danner & Bass Inc. boosted its position in Chevron by 5.5% in the 4th quarter. Lee Danner & Bass Inc. now owns 37,317 shares of the oil and gas company’s stock valued at $5,405,000 after buying an additional 1,948 shares during the last quarter. Independent Solutions Wealth Management LLC increased its stake in shares of Chevron by 5.9% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 24,371 shares of the oil and gas company’s stock valued at $3,530,000 after buying an additional 1,360 shares during the period. Finally, Kiker Wealth Management LLC bought a new stake in shares of Chevron during the fourth quarter worth $239,000. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

NYSE CVX opened at $164.37 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business has a 50 day simple moving average of $156.29 and a 200 day simple moving average of $152.51. The stock has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 70.37%.

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.