Chevron Corporation $CVX Shares Sold by Trust Investment Advisors

Trust Investment Advisors reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,765 shares of the oil and gas company’s stock after selling 1,844 shares during the quarter. Trust Investment Advisors’ holdings in Chevron were worth $1,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Allspring Global Investments Holdings LLC grew its stake in Chevron by 3.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 272,306 shares of the oil and gas company’s stock worth $45,886,000 after purchasing an additional 8,434 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Chevron by 3.1% during the 1st quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock worth $1,311,000 after buying an additional 239 shares during the last quarter. Sovran Advisors LLC lifted its holdings in Chevron by 17.4% during the 1st quarter. Sovran Advisors LLC now owns 7,009 shares of the oil and gas company’s stock worth $1,173,000 after buying an additional 1,039 shares during the last quarter. KBC Group NV grew its position in shares of Chevron by 4.1% in the 1st quarter. KBC Group NV now owns 170,129 shares of the oil and gas company’s stock worth $28,461,000 after acquiring an additional 6,666 shares in the last quarter. Finally, Hobbs Wealth Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at approximately $214,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Raymond James Financial restated an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $165.25.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 0.1%

NYSE:CVX opened at $155.38 on Tuesday. The stock has a market cap of $268.49 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 4.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business has a fifty day moving average of $156.03 and a 200-day moving average of $148.55.

Chevron (NYSE:CVX) last posted 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. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

About Chevron

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.