Chevron Co. (NYSE:CVX) Shares Sold by Riverview Trust Co

Riverview Trust Co trimmed its position in shares of Chevron Co. (NYSE:CVX) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,845 shares of the oil and gas company’s stock after selling 186 shares during the quarter. Riverview Trust Co’s holdings in Chevron were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Lantz Financial LLC increased its stake in Chevron by 4.0% in the 1st quarter. Lantz Financial LLC now owns 22,711 shares of the oil and gas company’s stock valued at $3,582,000 after purchasing an additional 866 shares in the last quarter. KMG Fiduciary Partners LLC increased its holdings in Chevron by 4.0% during the 1st quarter. KMG Fiduciary Partners LLC now owns 79,913 shares of the oil and gas company’s stock valued at $12,605,000 after acquiring an additional 3,101 shares in the last quarter. American National Bank raised its position in Chevron by 21.8% during the first quarter. American National Bank now owns 75,037 shares of the oil and gas company’s stock worth $11,836,000 after acquiring an additional 13,451 shares during the last quarter. BCS Wealth Management lifted its holdings in shares of Chevron by 4.1% in the first quarter. BCS Wealth Management now owns 5,350 shares of the oil and gas company’s stock valued at $844,000 after purchasing an additional 209 shares in the last quarter. Finally, Selway Asset Management grew its position in shares of Chevron by 3.4% in the first quarter. Selway Asset Management now owns 24,860 shares of the oil and gas company’s stock valued at $3,921,000 after purchasing an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

CVX stock opened at $150.74 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s fifty day moving average is $146.07 and its two-hundred day moving average is $153.71. The stock has a market capitalization of $277.81 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.