WASHINGTON TRUST Co Acquires 1,458 Shares of Chevron Co. (NYSE:CVX)

WASHINGTON TRUST Co boosted its stake in shares of Chevron Co. (NYSE:CVX) by 11.6% in the 4th quarter, HoldingsChannel reports. The fund owned 13,993 shares of the oil and gas company’s stock after buying an additional 1,458 shares during the quarter. WASHINGTON TRUST Co’s holdings in Chevron were worth $2,087,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management bought a new stake in shares of Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter worth $33,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of Chevron in the third quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new position in Chevron during the first quarter valued at $36,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.1 %

Chevron stock traded up $1.67 during trading on Thursday, hitting $158.02. The company had a trading volume of 3,529,237 shares, compared to its average volume of 8,694,591. The company’s 50 day simple moving average is $151.34 and its 200-day simple moving average is $152.65. The stock has a market cap of $293.49 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.09 earnings per share. As a group, analysts expect that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Piper Sandler lowered their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.39.

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.