Matrix Trust Co Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Matrix Trust Co decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,918 shares of the oil and gas company’s stock after selling 147 shares during the period. Matrix Trust Co’s holdings in Chevron were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new stake in shares of Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% in the 3rd 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 last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of Chevron stock traded up $0.61 on Friday, reaching $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a 50 day moving average price of $156.58 and a 200 day moving average price of $151.83. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market capitalization of $308.10 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the firm earned $3.55 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is currently 57.39%.

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.