Chevron Co. (NYSE:CVX) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank lowered its position in shares of Chevron Co. (NYSE:CVX) by 3.6% during the first quarter, HoldingsChannel reports. The firm owned 11,543 shares of the oil and gas company’s stock after selling 427 shares during the period. Greenfield Savings Bank’s holdings in Chevron were worth $1,931,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc grew its stake in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares during the last quarter. Viking Fund Management LLC grew its holdings in shares of Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Allianz SE acquired a new stake in Chevron during the 4th quarter worth about $9,369,000. Nicholas Company Inc. lifted its position in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Finally, Applied Finance Capital Management LLC lifted its holdings in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after purchasing an additional 2,755 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $139.55 on Wednesday. The firm has a 50 day moving average of $140.73 and a 200-day moving average of $150.20. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $243.71 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

Several analysts recently commented on CVX shares. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Wells Fargo & Company cut their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic restated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $160.24.

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.