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

Whittier Trust Co. of Nevada Inc. decreased its position in Chevron Corporation (NYSE:CVX) by 23.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 portfolio, 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Bank grew its position in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares in the last quarter. BNP Paribas lifted its stake in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 191 shares in the last quarter. Osterweis Capital Management Inc. increased its position in Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after buying an additional 553 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, March 20th. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Piper Sandler raised their price objective on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Finally, Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the business’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 transaction, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Chevron Trading Up 2.4%

CVX traded up $4.09 on Tuesday, reaching $172.19. 1,531,392 shares of the company’s stock were exchanged, compared to its average volume of 11,593,914. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company’s 50 day moving average is $183.31 and its 200-day moving average is $180.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company 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.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.52 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 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.