Spinnaker Trust Has $7.87 Million Stake in Chevron Co. (NYSE:CVX)

Spinnaker Trust boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,762 shares of the oil and gas company’s stock after buying an additional 3,028 shares during the period. Spinnaker Trust’s holdings in Chevron were worth $7,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in shares of Chevron during the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake 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 valued at $30,000 after purchasing an additional 80 shares in 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 acquired a new stake in shares of Chevron during the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc lifted its holdings in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

Shares of NYSE:CVX traded up $0.55 during midday trading on Friday, hitting $165.83. The company had a trading volume of 9,733,427 shares, compared to its average volume of 8,480,016. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a fifty day simple moving average of $156.58 and a 200 day simple moving average of $151.83. The stock has a market cap of $307.99 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.06 by ($0.13). The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.55 EPS. On average, analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVX shares. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

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.