Bar Harbor Trust Services reduced its stake in Chevron Co. (NYSE: CLCGet a rating) by 11.3% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company held 12,541 shares in the oil and gas company after selling 1,597 shares during the period. Bar Harbor Trust Services’ holdings in Chevron were worth $2,042,000 when it last filed with the SEC.

A number of other major investors have also recently changed their stances in the company. Norges Bank bought a new stake in shares of Chevron during the fourth quarter at a value of $3,111,594,000. Allspring Global Investments Holdings LLC bought a new position in Chevron in the fourth quarter worth approximately $119,040,000. Invesco Ltd. increased its holdings in Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company valued at $1,689,870,000 after acquiring 917,773 additional shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Chevron by 534.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company valued at $111,113,000 after acquiring an additional 797,701 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Chevron by 28.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company valued at $381,845,000 after acquiring an additional 730,170 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s shares.

Shares of NYSE CLC opened at $144.77 on Monday. The stock has a market capitalization of $284.45 billion, a PE ratio of 13.61, a P/E/G ratio of 0.63 and a beta of 1.09. The company has a debt ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The company has a fifty-day moving average price of $166.29 and a two-hundred-day moving average price of $150.27. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40.

Herringbone (NYSE: CLCGet a rating) last reported quarterly earnings data on Friday, April 29. The oil and gas company reported earnings per share of $3.36 for the quarter, missing the consensus estimate of $3.44 per ($0.08). The company posted revenue of $54.37 billion in the quarter, versus analyst estimates of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. Chevron’s revenue grew 69.8% year over year. During the same period of the previous year, the company made earnings per share of $0.90. On average, stock analysts expect Chevron Co. to post EPS of 17.5 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Thursday, May 19 received a dividend of $1.42. The ex-dividend date was Wednesday, May 18. This represents an annualized dividend of $5.68 and a yield of 3.92%. Chevron’s dividend payout ratio is currently 53.38%.

In other news, Director Enrique Hernández, Jr. sold 5,805 shares of the company in a trade on Tuesday, May 3. The stock was sold at an average price of $160.00, for a total transaction of $928,800.00. Following completion of the transaction, the director now owns 22,978 shares of the company, valued at approximately $3,676,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Enrique Hernandez, Jr. sold 39,773 shares of the company in a trade on Monday, May 16. The stock was sold at an average price of $173.99, for a total value of $6,920,104.27. As a result of the transaction, the administrator now directly owns 22,978 shares of the company, valued at approximately $3,997,942.22. Disclosure of this sale can be found here. Insiders sold a total of 561,726 shares of the company worth $94,057,396 in the past ninety days. Insiders own 0.32% of the shares of the company.

Several stock analysts have weighed in on CVX shares. Morgan Stanley cut its target price on Chevron from $188.00 to $185.00 and set an “equal weight” rating on the stock in a Monday, June 6 research note. Goldman Sachs Group cut its price target on Chevron from $181.00 to $162.00 and set a “neutral” rating on the stock in a Wednesday, June 22 research note. Raymond James raised his target price on Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a Monday, April 18 research note. Cowen raised its price target on Chevron from $165.00 to $179.00 in a Tuesday, June 7 research report. Finally, Credit Suisse Group raised its price target on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a Thursday, June 9 report. A research analyst rated the stock with a sell rating, eight gave the company a hold rating and fifteen gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “moderate buy” and a consensus target price of $169.57.

Herringbone profile (Get a rating)

Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses worldwide. 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 associated with liquefied natural gas; transportation of crude oil by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.

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Institutional ownership by quarter for Chevron (NYSE:CVX)



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