Perkins Coie Trust Co Increases Position in Chevron Co. (NYSE:CVX)

Perkins Coie Trust Co raised its holdings in shares of Chevron Co. (NYSE:CVX) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,601 shares of the oil and gas company’s stock after buying an additional 2,487 shares during the period. Chevron comprises approximately 1.6% of Perkins Coie Trust Co’s investment portfolio, making the stock its 14th biggest position. Perkins Coie Trust Co’s holdings in Chevron were worth $6,720,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Bare Financial Services Inc purchased a new stake in shares of Chevron during the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Trading Up 2.6 %

Shares of NYSE:CVX traded up $4.00 during trading on Monday, reaching $159.28. The stock had a trading volume of 7,970,588 shares, compared to its average volume of 8,089,869. The business has a fifty day moving average price of $159.28 and a 200-day moving average price of $154.41. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market cap of $293.55 billion, a P/E ratio of 14.65, a PEG ratio of 2.33 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $3,176,223 in the last ninety days. 0.20% of the stock is owned by insiders.

About Chevron

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.