Whittier Trust Co. of Nevada Inc. Cuts Stake in Chevron Corporation (CVX)

Whittier Trust Co. of Nevada Inc. cut its position in Chevron Corporation (NYSE:CVX) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,027 shares of the oil and gas company’s stock after selling 913 shares during the period. Chevron Corporation comprises approximately 1.4% of Whittier Trust Co. of Nevada Inc.’s investment portfolio, making the stock its 12th largest position. Whittier Trust Co. of Nevada Inc.’s holdings in Chevron Corporation were worth $13,983,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Bridge Creek Capital Management LLC increased its stake in Chevron Corporation by 1.8% in the second quarter. Bridge Creek Capital Management LLC now owns 33,740 shares of the oil and gas company’s stock worth $3,520,000 after buying an additional 594 shares in the last quarter. Gradient Investments LLC raised its stake in shares of Chevron Corporation by 6.9% in the second quarter. Gradient Investments LLC now owns 66,427 shares of the oil and gas company’s stock worth $6,930,000 after buying an additional 4,306 shares during the period. Reilly Financial Advisors LLC raised its stake in shares of Chevron Corporation by 5.3% in the second quarter. Reilly Financial Advisors LLC now owns 9,103 shares of the oil and gas company’s stock worth $950,000 after buying an additional 462 shares during the period. Butensky & Cohen Financial Security Inc. raised its stake in shares of Chevron Corporation by 2.3% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 17,859 shares of the oil and gas company’s stock worth $1,863,000 after buying an additional 395 shares during the period. Finally, Longer Investments Inc. raised its stake in shares of Chevron Corporation by 0.3% in the second quarter. Longer Investments Inc. now owns 22,585 shares of the oil and gas company’s stock worth $2,356,000 after buying an additional 75 shares during the period. 62.75% of the stock is currently owned by institutional investors.

Chevron Corporation (NYSE:CVX) traded up 0.29% during mid-day trading on Tuesday, hitting $106.09. The stock had a trading volume of 1,320,177 shares. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The stock’s 50-day moving average is $106.48 and its 200 day moving average is $107.37. The company has a market capitalization of $201.04 billion, a P/E ratio of 34.40 and a beta of 1.23.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.78) EPS. Equities analysts forecast that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.

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A number of brokerages have recently issued reports on CVX. Citigroup Inc. cut their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. BMO Capital Markets set a $120.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Exane BNP Paribas lowered Chevron Corporation from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $105.00 to $100.00 in a research report on Friday, May 26th. BidaskClub raised Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $116.80.

In other news, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Chevron Corporation Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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