Perkins Coie Trust Co Reduces Stake in Chevron Co. (NYSE:CVX)

Perkins Coie Trust Co reduced its stake in Chevron Co. (NYSE:CVX) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,100 shares of the oil and gas company’s stock after selling 215 shares during the quarter. Perkins Coie Trust Co’s holdings in Chevron were worth $2,648,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. DAVENPORT & Co LLC lifted its stake in shares of Chevron by 15.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 681,068 shares of the oil and gas company’s stock valued at $71,335,000 after purchasing an additional 92,201 shares during the last quarter. CapWealth Advisors LLC lifted its stake in shares of Chevron by 4.9% in the 2nd quarter. CapWealth Advisors LLC now owns 157,447 shares of the oil and gas company’s stock valued at $16,491,000 after purchasing an additional 7,351 shares during the last quarter. Oakwood Capital Management LLC CA lifted its stake in shares of Chevron by 2.0% in the 2nd quarter. Oakwood Capital Management LLC CA now owns 53,292 shares of the oil and gas company’s stock valued at $5,582,000 after purchasing an additional 1,037 shares during the last quarter. Vigilare Wealth Management lifted its stake in shares of Chevron by 72.9% in the 2nd quarter. Vigilare Wealth Management now owns 6,721 shares of the oil and gas company’s stock valued at $704,000 after purchasing an additional 2,834 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its stake in shares of Chevron by 5.5% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 40,028 shares of the oil and gas company’s stock valued at $4,192,000 after purchasing an additional 2,083 shares during the last quarter. Institutional investors own 65.55% of the company’s stock.

NYSE:CVX opened at $116.30 on Wednesday. The stock’s 50 day moving average price is $108.83 and its 200 day moving average price is $104.82. The company has a market capitalization of $224.19 billion, a PE ratio of 22.45, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27. Chevron Co. has a 52-week low of $83.53 and a 52-week high of $118.08.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.75. Chevron had a return on equity of 7.95% and a net margin of 7.10%. The company had revenue of $44.71 billion during the quarter, compared to analysts’ expectations of $40.89 billion. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 82.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 8.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Thursday, November 18th will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a yield of 4.61%. Chevron’s payout ratio is 103.47%.

Several equities analysts recently issued reports on the company. UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Monday, November 15th. Truist increased their target price on Chevron from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. TheStreet raised Chevron from a “c” rating to a “b-” rating in a research note on Friday, July 30th. Raymond James increased their target price on Chevron from $134.00 to $137.00 and gave the stock an “outperform” rating in a research note on Monday, November 1st. Finally, Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $145.00 in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $121.23.

In other news, EVP James William Johnson sold 78,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $113.13, for a total value of $8,824,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Colin E. Parfitt sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $115.01, for a total value of $1,725,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 325,651 shares of company stock valued at $37,293,688 over the last ninety days. 0.29% of the stock is owned by insiders.

Chevron Company Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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