Kentucky Trust Co Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Kentucky Trust Co lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 2.4% in the first quarter, HoldingsChannel.com reports. The firm owned 18,795 shares of the oil and gas company’s stock after selling 470 shares during the quarter. Chevron comprises approximately 1.9% of Kentucky Trust Co’s holdings, making the stock its 11th largest holding. Kentucky Trust Co’s holdings in Chevron were worth $3,144,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Capital & Planning LLC boosted its position in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Chevron in the 4th quarter worth approximately $8,947,000. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in Chevron by 212.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock valued at $775,000 after acquiring an additional 3,639 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

Shares of Chevron stock opened at $148.18 on Friday. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock’s fifty day moving average is $139.09 and its 200 day moving average is $148.81. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 earnings per share. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. Chevron’s payout ratio is currently 78.17%.

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.