Pioneer Trust Bank N A OR Trims Stock Holdings in Chevron Corporation (NYSE:CVX)

Pioneer Trust Bank N A OR reduced its position in shares of Chevron Corporation (NYSE:CVX) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,670 shares of the oil and gas company’s stock after selling 2,535 shares during the period. Chevron makes up 2.2% of Pioneer Trust Bank N A OR’s portfolio, making the stock its 15th biggest holding. Pioneer Trust Bank N A OR’s holdings in Chevron were worth $8,477,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. Finally, Navigoe LLC purchased a new position in shares of Chevron during the 4th quarter valued at $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Barclays upped their target price on shares of Chevron from $152.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.65.

Chevron Stock Performance

Chevron stock opened at $155.38 on Monday. The company has a market capitalization of $271.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83. The firm has a fifty day simple moving average of $142.62 and a two-hundred day simple moving average of $148.47. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.