Washington Trust Advisors Inc. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Washington Trust Advisors Inc. cut its position in Chevron Co. (NYSE:CVX) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Well Done LLC boosted its position in Chevron by 69.9% in the 4th quarter. Well Done LLC now owns 4,048 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 1,665 shares during the period. WASHINGTON TRUST Co increased its position in Chevron by 11.6% during the 4th quarter. WASHINGTON TRUST Co now owns 13,993 shares of the oil and gas company’s stock valued at $2,087,000 after purchasing an additional 1,458 shares during the period. LaFleur & Godfrey LLC raised its holdings in shares of Chevron by 24.4% in the 4th quarter. LaFleur & Godfrey LLC now owns 74,153 shares of the oil and gas company’s stock valued at $11,061,000 after purchasing an additional 14,543 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Chevron by 1.6% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 12,062 shares of the oil and gas company’s stock worth $1,799,000 after purchasing an additional 195 shares during the period. Finally, Northstar Advisory Group LLC boosted its stake in shares of Chevron by 3.4% during the fourth quarter. Northstar Advisory Group LLC now owns 2,395 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 78 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded up $1.65 during trading on Thursday, reaching $158.00. The company’s stock had a trading volume of 3,736,558 shares, compared to its average volume of 8,698,643. Chevron Co. has a one year low of $139.62 and a one year high of $172.88. The firm has a market cap of $293.45 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The business’s fifty day moving average price is $151.34 and its 200-day moving average price is $152.65. 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. During the same period last year, the company earned $4.09 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. Royal Bank of Canada upped their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Piper Sandler reduced their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. DZ Bank cut 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. Finally, Mizuho raised their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.