Diversified Trust Co Decreases Position in Chevron Co. (NYSE:CVX)

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Diversified Trust Co cut its stake in Chevron Co. (NYSE:CVX) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,403 shares of the oil and gas company’s stock after selling 605 shares during the quarter. Diversified Trust Co’s holdings in Chevron were worth $3,725,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVX. Guidant Wealth Advisors raised its holdings in Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in Chevron in the 2nd quarter valued at about $34,000. Transamerica Financial Advisors Inc. acquired a new stake in Chevron in the 2nd quarter valued at about $46,000. Cordasco Financial Network raised its holdings in Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Finally, CKW Financial Group raised its holdings in Chevron by 154.0% in the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 251 shares during the last quarter. 65.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CVX traded up $1.53 during midday trading on Wednesday, reaching $113.24. 548,241 shares of the stock were exchanged, compared to its average volume of 6,611,805. The company has a 50 day simple moving average of $118.60 and a 200 day simple moving average of $120.88. The stock has a market capitalization of $216.13 billion, a P/E ratio of 13.73, a PEG ratio of 4.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.60.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The business had revenue of $38.85 billion during the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, research analysts expect that Chevron Co. will post 6.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.19 per share. The ex-dividend date was Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.20%. Chevron’s dividend payout ratio is currently 57.70%.

A number of analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price objective for the company. Morgan Stanley cut their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective for the company. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $137.47.

In related news, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debra L. Reed acquired 4,250 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $118.14 per share, with a total value of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold a total of 86,750 shares of company stock valued at $10,648,200 in the last 90 days. Insiders own 0.31% of the company’s stock.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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