Chevron Corporation $CVX Shares Acquired by Diversified Trust Co

Diversified Trust Co lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 44.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 67,811 shares of the oil and gas company’s stock after purchasing an additional 20,720 shares during the quarter. Diversified Trust Co’s holdings in Chevron were worth $14,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. D.B. Root & Company LLC boosted its stake in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after acquiring an additional 57 shares during the period. Fox Hill Wealth Management raised its position in shares of Chevron by 1.7% during the 4th quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Chevron by 6.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC lifted its holdings in shares of Chevron by 3.4% in the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 59 shares during the last quarter. Finally, EWA LLC lifted its holdings in shares of Chevron by 2.8% in the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Bank of America upped their price objective on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Sanford C. Bernstein cut their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Piper Sandler boosted their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, UBS Group upped their price target on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Price Performance

Shares of NYSE:CVX opened at $173.51 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The stock’s 50 day moving average price is $186.63 and its 200 day moving average price is $179.20. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $51.86 billion. During the same period in the previous year, the company earned $2.18 earnings per share. Chevron’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on 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 directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock worth $118,022,760 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Chevron Company 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.