Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 892,983 shares of the oil and gas company’s stock after selling 1,467 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Chevron were worth $149,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $3,017,750,000. Northern Trust Corp grew its stake in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after buying an additional 410,460 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Down 1.8%

NYSE:CVX opened at $146.92 on Tuesday. The company has a market cap of $256.58 billion, a PE ratio of 16.79, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $139.60 and its two-hundred day moving average is $148.52.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.66%. 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.