Howe & Rusling Inc. Trims Position in Chevron Co. (NYSE:CVX)

Howe & Rusling Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,185 shares of the oil and gas company’s stock after selling 5,322 shares during the quarter. Chevron makes up approximately 1.4% of Howe & Rusling Inc.’s portfolio, making the stock its 20th biggest holding. Howe & Rusling Inc.’s holdings in Chevron were worth $12,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH raised its holdings in Chevron by 4.8% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 61,737 shares of the oil and gas company’s stock valued at $10,410,000 after buying an additional 2,837 shares during the last quarter. Uncommon Cents Investing LLC boosted its holdings in shares of Chevron by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 12,072 shares of the oil and gas company’s stock worth $2,036,000 after purchasing an additional 250 shares during the period. Evanson Asset Management LLC grew its stake in shares of Chevron by 8.2% in the third quarter. Evanson Asset Management LLC now owns 17,236 shares of the oil and gas company’s stock worth $2,906,000 after purchasing an additional 1,299 shares during the last quarter. Charles Schwab Trust Co increased its holdings in Chevron by 64.7% during the 3rd quarter. Charles Schwab Trust Co now owns 26,474 shares of the oil and gas company’s stock valued at $4,464,000 after purchasing an additional 10,396 shares during the period. Finally, Lineweaver Wealth Advisors LLC raised its position in Chevron by 82.5% during the 3rd quarter. Lineweaver Wealth Advisors LLC now owns 12,073 shares of the oil and gas company’s stock valued at $2,036,000 after purchasing an additional 5,459 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Chevron Trading Down 1.0 %

CVX traded down $1.55 during trading hours on Wednesday, reaching $159.72. 4,998,600 shares of the company’s stock traded hands, compared to its average volume of 8,405,091. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $156.96 and a 200 day moving average price of $151.68. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market capitalization of $296.64 billion, a PE ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the company earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $185.35.

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.