Chevron Corporation (NYSE:CVX) Holdings Lowered by Trust Co. of Vermont

Trust Co. of Vermont trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,666 shares of the oil and gas company’s stock after selling 2,526 shares during the period. Trust Co. of Vermont’s holdings in Chevron were worth $17,342,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter worth about $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC lifted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. 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.com, the company currently has an average rating of “Hold” and an average price target of $160.29.

Chevron Stock Performance

Shares of NYSE CVX opened at $143.87 on Friday. 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 firm has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.54 and a beta of 0.83. The business’s 50-day simple moving average is $140.20 and its 200-day simple moving average is $148.27. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.