Bath Savings Trust Co Has $4.05 Million Position in Chevron Co. (NYSE:CVX)

Bath Savings Trust Co cut its position in Chevron Co. (NYSE:CVX) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,476 shares of the oil and gas company’s stock after selling 789 shares during the period. Bath Savings Trust Co’s holdings in Chevron were worth $4,046,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Eagle Capital Management LLC grew its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC acquired a new position in shares of Chevron in the 1st quarter valued at approximately $345,000. KCM Investment Advisors LLC increased its stake in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron during the 4th quarter worth approximately $46,000. Finally, Hosking Partners LLP bought a new position in Chevron in the first quarter valued at approximately $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Chevron Stock Performance

Shares of CVX opened at $151.14 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a 50-day moving average of $145.99 and a 200-day moving average of $154.11. The company has a market cap of $278.55 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.