Charles Schwab Trust Co Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Charles Schwab Trust Co lowered its stake in Chevron Co. (NYSE:CVX) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,931 shares of the oil and gas company’s stock after selling 1,002 shares during the quarter. Charles Schwab Trust Co’s holdings in Chevron were worth $2,742,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its holdings in shares of Chevron by 1.9% during the second quarter. Evergreen Capital Management LLC now owns 40,897 shares of the oil and gas company’s stock valued at $6,397,000 after acquiring an additional 775 shares during the last quarter. Providence Capital Advisors LLC increased its position in shares of Chevron by 1.6% during the second quarter. Providence Capital Advisors LLC now owns 18,614 shares of the oil and gas company’s stock worth $2,912,000 after purchasing an additional 288 shares in the last quarter. Cheviot Value Management LLC acquired a new position in Chevron in the 2nd quarter valued at $12,340,000. Mill Creek Capital Advisors LLC lifted its holdings in Chevron by 3.2% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock valued at $659,000 after purchasing an additional 131 shares in the last quarter. Finally, Semmax Financial Advisors Inc. boosted its stake in Chevron by 21.8% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,209 shares of the oil and gas company’s stock worth $751,000 after purchasing an additional 932 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 2.0 %

Shares of CVX stock opened at $158.16 on Wednesday. The company has a 50-day moving average of $154.03 and a two-hundred day moving average of $151.04. The firm has a market cap of $284.23 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Chevron Company Profile

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.