Reliance Trust Co. of Delaware trimmed its holdings in Chevron Co. (NYSE:CVX) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 49,967 shares of the oil and gas company’s stock after selling 2,073 shares during the period. Chevron makes up approximately 0.9% of Reliance Trust Co. of Delaware’s holdings, making the stock its 15th largest holding. Reliance Trust Co. of Delaware’s holdings in Chevron were worth $6,255,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Fusion Family Wealth LLC grew its position in Chevron by 192.6% in the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 838 shares during the last quarter. Lenox Wealth Advisors Inc. grew its position in Chevron by 15,555.6% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock valued at $176,000 after buying an additional 1,400 shares during the last quarter. Lesa Sroufe & Co purchased a new position in Chevron in the 3rd quarter valued at $201,000. WCM Investment Management CA purchased a new position in Chevron in the 4th quarter valued at $202,000. Finally, Independence Trust CO purchased a new position in Chevron in the 4th quarter valued at $204,000. 64.42% of the stock is currently owned by institutional investors and hedge funds.
Get Chevron alerts:In related news, CEO Michael K. Wirth sold 130,000 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $128.00, for a total value of $16,640,000.00. Following the completion of the transaction, the chief executive officer now owns 130,000 shares of the company’s stock, valued at approximately $16,640,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The disclosure for this sale can be found here. Insiders sold a total of 386,500 shares of company stock valued at $49,748,880 in the last three months. 0.46% of the stock is currently owned by corporate insiders.
Shares of Chevron opened at $122.19 on Monday, Marketbeat reports. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88. The stock has a market capitalization of $233.41 billion, a P/E ratio of 33.02, a PEG ratio of 2.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 0.84.
Chevron (NYSE:CVX) last announced its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. analysts expect that Chevron Co. will post 7.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s payout ratio is 121.08%.
A number of research firms recently weighed in on CVX. Royal Bank of Canada upgraded shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective on the stock in a research report on Friday, February 9th. Credit Suisse Group boosted their target price on shares of Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Vetr lowered shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price on the stock. in a research report on Monday, February 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $133.52.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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