Whittier Trust Co. of Nevada Inc. Decreases Stock Position in Chevron Corporation $CVX

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 23.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,408 shares of the oil and gas company’s stock after selling 60,063 shares during the period. Chevron comprises approximately 0.8% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 23rd biggest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Chevron were worth $40,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the first quarter worth about $25,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Karpus Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Morgan Stanley cut their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Sanford C. Bernstein decreased their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Performance

Chevron stock traded up $4.09 during midday trading on Tuesday, reaching $172.19. 1,531,392 shares of the stock traded hands, compared to its average volume of 11,593,914. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $342.93 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 0.57 and a beta of 0.50. The firm has a fifty day moving average price of $183.31 and a two-hundred day moving average price of $180.61.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm earned $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 15.52 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.