Trustco Bank Corp N Y Has $2.45 Million Stock Position in Chevron Corporation $CVX

Trustco Bank Corp N Y cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,639 shares of the oil and gas company’s stock after selling 333 shares during the quarter. Chevron comprises 2.7% of Trustco Bank Corp N Y’s portfolio, making the stock its 13th biggest holding. Trustco Bank Corp N Y’s holdings in Chevron were worth $2,449,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in Chevron in the 1st quarter valued at $31,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at $29,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of CVX stock opened at $159.14 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $274.99 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.33 and a beta of 0.87. The business has a fifty day simple moving average of $151.84 and a 200 day simple moving average of $148.78.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the company earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVX shares. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Piper Sandler upped their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $163.95.

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.