Chevron Co. (NYSE:CVX) Stake Lowered by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,143 shares of the oil and gas company’s stock after selling 1,250 shares during the period. Chevron accounts for 1.3% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 17th biggest holding. Plimoth Trust Co. LLC’s holdings in Chevron were worth $4,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. BKD Wealth Advisors LLC raised its holdings in shares of Chevron by 2.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock valued at $3,462,000 after buying an additional 763 shares during the period. Traynor Capital Management Inc. boosted its position in shares of Chevron by 15.7% in the 4th quarter. Traynor Capital Management Inc. now owns 16,842 shares of the oil and gas company’s stock valued at $1,832,000 after purchasing an additional 2,280 shares during the period. Asset Planning Services Inc. LA ADV boosted its position in shares of Chevron by 1.9% in the 4th quarter. Asset Planning Services Inc. LA ADV now owns 40,390 shares of the oil and gas company’s stock valued at $4,394,000 after purchasing an additional 735 shares during the period. V Wealth Advisors LLC boosted its position in shares of Chevron by 7.0% in the 4th quarter. V Wealth Advisors LLC now owns 6,320 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 413 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Chevron by 2.8% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 85,010 shares of the oil and gas company’s stock valued at $9,248,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 66.45% of the company’s stock.

NYSE:CVX traded down $0.34 during mid-day trading on Friday, hitting $117.39. The company’s stock had a trading volume of 442,155 shares, compared to its average volume of 6,296,626. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $220.46 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.80 and a beta of 1.00. The stock has a fifty day moving average of $122.30 and a 200-day moving average of $121.40.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Chevron’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 6.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.05%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.

A number of equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Chevron in a research note on Tuesday. They set an “outperform” rating and a $165.00 target price for the company. Morgan Stanley dropped their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays started coverage on Chevron in a report on Monday. They set an “overweight” rating and a $145.00 target price on the stock. Citigroup began coverage on Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $136.78.

In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the sale, the insider now directly owns 9,243 shares in the company, valued at $1,132,267.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now owns 33,750 shares in the company, valued at $4,239,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,750 shares of company stock worth $6,448,700. Company insiders own 0.31% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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