Sabal Trust CO Has $31.44 Million Holdings in Chevron Corporation (NYSE:CVX)

Sabal Trust CO cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.1% during the 1st quarter, Holdings Channel reports. The firm owned 187,932 shares of the oil and gas company’s stock after selling 4,036 shares during the period. Chevron makes up 1.7% of Sabal Trust CO’s holdings, making the stock its 18th largest holding. Sabal Trust CO’s holdings in Chevron were worth $31,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG raised its position in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its stake in Chevron by 3.9% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,230 shares of the oil and gas company’s stock worth $2,206,000 after purchasing an additional 575 shares during the last quarter. Sprott Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at $432,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Chevron in the 4th quarter valued at $46,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.0%

Shares of CVX opened at $143.49 on Thursday. The stock’s 50-day moving average price is $139.95 and its two-hundred day moving average price is $148.45. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $250.59 billion, a PE ratio of 16.40, a PEG ratio of 2.52 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

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.