First Interstate Bank Cuts Position in Chevron Co. (NYSE:CVX)

First Interstate Bank lessened its holdings in Chevron Co. (NYSE:CVX) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 6,712 shares of the oil and gas company’s stock after selling 402 shares during the period. First Interstate Bank’s holdings in Chevron were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NCM Capital Management LLC increased its stake in shares of Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 65 shares in the last quarter. Sweet Financial Partners LLC grew its stake in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its stake in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 65 shares in the last quarter. Alera Investment Advisors LLC grew its stake in Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its stake in Chevron by 1.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded down $1.31 during mid-day trading on Wednesday, hitting $156.28. The stock had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.54. The firm has a market cap of $290.25 billion, a PE ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company’s 50-day simple moving average is $155.11 and its 200-day simple moving average is $151.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the business earned $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $183.55.

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.