Coconut Grove Bank lowered its stake in Chevron Corporation (NYSE:CVX) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,568 shares of the oil and gas company’s stock after selling 964 shares during the period. Chevron Corporation makes up approximately 1.5% of Coconut Grove Bank’s portfolio, making the stock its 17th largest position. Coconut Grove Bank’s holdings in Chevron Corporation were worth $1,779,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Greenleaf Trust raised its position in Chevron Corporation by 8.3% in the first quarter. Greenleaf Trust now owns 12,897 shares of the oil and gas company’s stock valued at $1,385,000 after buying an additional 989 shares in the last quarter. Arrow Financial Corp raised its position in Chevron Corporation by 0.6% in the first quarter. Arrow Financial Corp now owns 41,003 shares of the oil and gas company’s stock valued at $4,402,000 after buying an additional 241 shares in the last quarter. Central Bank & Trust Co. raised its position in Chevron Corporation by 172.8% in the first quarter. Central Bank & Trust Co. now owns 8,512 shares of the oil and gas company’s stock valued at $914,000 after buying an additional 5,392 shares in the last quarter. North Star Investment Management Corp. raised its position in Chevron Corporation by 9.1% in the first quarter. North Star Investment Management Corp. now owns 13,378 shares of the oil and gas company’s stock valued at $1,436,000 after buying an additional 1,118 shares in the last quarter. Finally, Verity & Verity LLC raised its position in Chevron Corporation by 27.1% in the first quarter. Verity & Verity LLC now owns 82,509 shares of the oil and gas company’s stock valued at $8,859,000 after buying an additional 17,575 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.

Chevron Corporation (CVX) traded up 0.64% during mid-day trading on Friday, hitting $108.13. 961,763 shares of the stock were exchanged. The stock has a market capitalization of $204.91 billion, a P/E ratio of 35.06 and a beta of 1.23. The firm has a 50-day moving average price of $106.56 and a 200-day moving average price of $107.31. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. Chevron Corporation also was the recipient of unusually large options trading on Tuesday. Traders purchased 18,850 put options on the company. This represents an increase of 199% compared to the typical volume of 6,310 put options.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the prior year, the business earned ($0.78) EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post $3.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.

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Several research firms have recently commented on CVX. Credit Suisse Group set a $123.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC restated a “buy” rating and set a $135.00 price target on shares of Chevron Corporation in a research report on Wednesday. Royal Bank Of Canada set a $100.00 target price on shares of Chevron Corporation and gave the company a “sell” rating in a research report on Friday, August 18th. BNP Paribas upgraded shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 target price for the company in a research report on Monday, August 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron Corporation currently has an average rating of “Buy” and an average price target of $117.12.

In other news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 over the last quarter. Company insiders own 0.38% of the company’s stock.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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