WASHINGTON TRUST Co Purchases 331 Shares of Chevron Corporation $CVX

WASHINGTON TRUST Co boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,485 shares of the oil and gas company’s stock after buying an additional 331 shares during the quarter. WASHINGTON TRUST Co’s holdings in Chevron were worth $1,788,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron in the 1st quarter valued at $31,000. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Investment Management Corp VA ADV lifted its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, IMG Wealth Management Inc. raised its position in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Piper Sandler dropped their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday. Morgan Stanley upped their price objective on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $166.25.

Chevron Stock Up 1.5%

Shares of Chevron stock traded up $2.37 during trading hours on Thursday, hitting $155.69. The company had a trading volume of 1,156,968 shares, compared to its average volume of 8,788,599. The company’s 50-day moving average is $155.24 and its two-hundred day moving average is $150.07. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market cap of $313.48 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the firm posted $2.48 earnings per share. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 96.20%.

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.