Idaho Trust Bank Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Idaho Trust Bank lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 17.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,815 shares of the oil and gas company’s stock after selling 376 shares during the quarter. Idaho Trust Bank’s holdings in Chevron were worth $263,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pettinga Financial Advisors LLC lifted its position in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares in the last quarter. United Bank increased its holdings in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in shares of Chevron by 33.2% in the third quarter. Ashton Thomas Securities LLC now owns 3,001 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 748 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in shares of Chevron by 9.5% in the third quarter. Jaffetilchin Investment Partners LLC now owns 6,324 shares of the oil and gas company’s stock valued at $931,000 after purchasing an additional 547 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Chevron by 306.1% in the third quarter. WCM Investment Management LLC now owns 11,009 shares of the oil and gas company’s stock valued at $1,602,000 after purchasing an additional 8,298 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Down 2.3 %

Chevron stock opened at $153.94 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two 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 company has a market capitalization of $271.02 billion, a P/E ratio of 15.84, a PEG ratio of 1.46 and a beta of 1.08. The stock has a 50-day simple moving average of $154.55 and a 200-day simple moving average of $151.91.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company earned $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Chevron Company 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.