BTC Capital Management Inc. Has $278,000 Stock Holdings in Chevron Co. (NYSE:CVX)

BTC Capital Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 65.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,921 shares of the oil and gas company’s stock after selling 3,625 shares during the quarter. BTC Capital Management Inc.’s holdings in Chevron were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Country Trust Bank increased its stake in shares of Chevron by 5.5% in the 4th quarter. Country Trust Bank now owns 192,906 shares of the oil and gas company’s stock valued at $27,941,000 after purchasing an additional 10,016 shares during the last quarter. Keudell Morrison Wealth Management boosted its stake in Chevron by 7.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 16,743 shares of the oil and gas company’s stock valued at $2,425,000 after buying an additional 1,210 shares in the last quarter. Intergy Private Wealth LLC bought a new position in Chevron in the fourth quarter valued at about $256,000. Hansen & Associates Financial Group Inc. acquired a new position in Chevron during the fourth quarter worth about $11,916,000. Finally, Evernest Financial Advisors LLC lifted its holdings in shares of Chevron by 11.5% in the fourth quarter. Evernest Financial Advisors LLC now owns 3,678 shares of the oil and gas company’s stock worth $533,000 after acquiring an additional 379 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 4.5 %

Chevron stock opened at $149.21 on Friday. The firm has a market cap of $268.14 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50 day moving average price of $153.46 and a two-hundred day moving average price of $151.20.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same quarter in the prior year, the company posted $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.18 EPS for the current year.

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.