Washington Trust Advisors Inc. Has $1.05 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Washington Trust Advisors Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,042 shares of the oil and gas company’s stock after selling 359 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Chevron were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisor L.P increased its holdings in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC increased its stake in shares of Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 1,476 shares during the last quarter. GQG Partners LLC boosted its stake in Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC increased its stake in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.1 %

Shares of NYSE:CVX traded up $1.65 during mid-day trading on Thursday, reaching $158.00. 3,736,558 shares of the company’s stock were exchanged, compared to its average volume of 8,698,643. The firm has a market capitalization of $293.45 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The business’s fifty day moving average price is $151.34 and its 200-day moving average price is $152.65.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company earned $4.09 earnings per share. On average, research analysts predict that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Piper Sandler lowered their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Mizuho raised their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a report on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.39.

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.