Country Club Trust Company n.a. cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 83,899 shares of the oil and gas company’s stock after selling 714 shares during the period. Chevron makes up approximately 1.3% of Country Club Trust Company n.a.’s holdings, making the stock its 21st largest holding. Country Club Trust Company n.a.’s holdings in Chevron were worth $10,607,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Reilly Herbert Faulkner III grew its stake in shares of Chevron by 4.5% in the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after purchasing an additional 1,334 shares in the last quarter. AMG National Trust Bank grew its stake in shares of Chevron by 19.6% in the second quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after purchasing an additional 1,041 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Chevron by 1.6% in the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after purchasing an additional 4,800 shares in the last quarter. BP PLC grew its stake in shares of Chevron by 10.6% in the second quarter. BP PLC now owns 240,000 shares of the oil and gas company’s stock worth $30,334,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Altman Advisors Inc. grew its stake in shares of Chevron by 84.8% in the second quarter. Altman Advisors Inc. now owns 32,450 shares of the oil and gas company’s stock worth $2,115,000 after purchasing an additional 14,891 shares in the last quarter. 64.66% of the stock is currently owned by institutional investors.
In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total transaction of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at approximately $569,857.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Several brokerages have recently weighed in on CVX. Barclays upped their price objective on Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Credit Suisse Group upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price objective for the company in a report on Monday. Bank of America restated a “neutral” rating and issued a $140.00 price objective (up previously from $135.00) on shares of Chevron in a report on Monday. Goldman Sachs Group restated a “buy” rating and issued a $141.00 price objective on shares of Chevron in a report on Tuesday, July 31st. Finally, ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average target price of $138.13.
Shares of CVX stock opened at $120.87 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $219.84 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.01 and a beta of 1.12. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.05. The business had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. Equities research analysts expect that Chevron Co. will post 8.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio is 121.08%.
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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