Matrix Trust Co Has $1.18 Million Stake in Chevron Co. (NYSE:CVX)

Matrix Trust Co decreased its position in Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,918 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Matrix Trust Co’s holdings in Chevron were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Sweet Financial Partners LLC grew its position in shares of Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the period. Strategic Investment Advisors MI grew its position in shares of Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 65 shares during the period. Regent Peak Wealth Advisors LLC grew its position in shares of Chevron by 1.4% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after acquiring an additional 68 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after buying an additional 68 shares during the period. Finally, Investment Partners LTD. boosted its holdings in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.4 %

Shares of CVX traded up $0.61 during trading hours on Friday, reaching $165.89. 9,736,350 shares of the company traded hands, compared to its average volume of 7,082,480. The company’s fifty day moving average price is $156.58 and its two-hundred day moving average price is $151.83. The company has a market capitalization of $308.10 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is currently 57.39%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Wells Fargo & Company raised their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Truist Financial lowered their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Chevron 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.