Matrix Trust Co Sells 81 Shares of Chevron Co. (NYSE:CVX)

Matrix Trust Co cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 8,372 shares of the oil and gas company’s stock after selling 81 shares during the period. Matrix Trust Co’s holdings in Chevron were worth $1,401,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp raised its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.5%

Shares of CVX opened at $137.46 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $240.06 billion, a PE ratio of 14.14, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The business has a fifty day moving average of $140.16 and a 200 day moving average of $150.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $160.24.

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.