Clearstead Trust LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Clearstead Trust LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,201 shares of the oil and gas company’s stock after selling 1,142 shares during the quarter. Chevron comprises 0.7% of Clearstead Trust LLC’s portfolio, making the stock its 28th largest position. Clearstead Trust LLC’s holdings in Chevron were worth $2,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Windsor Advisory Group LLC increased its position in Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 720 shares during the period. Renaissance Investment Group LLC boosted its stake in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares in the last quarter. Altrius Capital Management Inc boosted its stake in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC bought a new position in Chevron during the 4th quarter valued at $254,000. Finally, Kapstone Financial Advisors LLC boosted its stake in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.48 during midday trading on Friday, hitting $160.25. The company’s stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The stock has a market capitalization of $297.63 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.38 and a beta of 1.11. The stock’s 50 day simple moving average is $157.26 and its 200 day simple moving average is $151.76. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the business earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

About Chevron

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.