Dorsey & Whitney Trust CO LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Dorsey & Whitney Trust CO LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,210 shares of the oil and gas company’s stock after selling 1,134 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Chevron were worth $2,536,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new position in Chevron in the 1st quarter valued at $345,000. Seven Mile Advisory grew its position in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 247 shares in the last quarter. KCM Investment Advisors LLC increased its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Up 1.3 %

CVX opened at $140.30 on Tuesday. Chevron Co. has a 12 month low of $137.87 and a 12 month high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $150.50 and its 200-day moving average price is $155.16. The company has a market cap of $256.60 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 earnings per share. On average, equities analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.65%. Chevron’s dividend payout ratio is currently 59.98%.

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.