Washington Trust Bank cut its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,471 shares of the oil and gas company’s stock after selling 152 shares during the period. Washington Trust Bank’s holdings in Chevron were worth $1,827,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Chevron by 4.9% in the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after buying an additional 6,208,177 shares in the last quarter. State Street Corp lifted its stake in Chevron by 2.6% in the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock valued at $8,481,831,000 after buying an additional 2,914,316 shares in the last quarter. Capital International Investors lifted its stake in Chevron by 12.9% in the 1st quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock valued at $2,666,493,000 after buying an additional 4,218,942 shares in the last quarter. Geode Capital Management LLC lifted its stake in Chevron by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 28,195,690 shares of the oil and gas company’s stock worth $2,039,893,000 after purchasing an additional 522,767 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Chevron by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 21,208,927 shares of the oil and gas company’s stock worth $1,536,798,000 after purchasing an additional 1,096,715 shares in the last quarter. Hedge funds and other institutional investors own 64.60% of the company’s stock.

NYSE:CVX traded down $2.33 during trading hours on Friday, reaching $83.94. 19,120,651 shares of the company were exchanged, compared to its average volume of 7,507,398. The stock has a 50 day simple moving average of $88.84 and a 200 day simple moving average of $92.49. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $125.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market cap of $156.71 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 21.46 and a beta of 1.29.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.66). Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $21.71 billion. During the same period in the prior year, the business posted $1.77 EPS. The business’s revenue was down 64.1% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 0.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Tuesday, August 18th. Chevron’s dividend payout ratio is presently 82.30%.

A number of research analysts have weighed in on CVX shares. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a research note on Wednesday, July 22nd. Mizuho decreased their target price on shares of Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Scotiabank raised their target price on shares of Chevron from $90.00 to $95.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 13th. Goldman Sachs Group lowered shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, May 4th. Finally, lowered shares of Chevron from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron has an average rating of “Buy” and a consensus price target of $111.25.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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