Equitable Trust Co. Trims Stock Position in Chevron Corporation $CVX

Equitable Trust Co. lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,923 shares of the oil and gas company’s stock after selling 107 shares during the quarter. Equitable Trust Co.’s holdings in Chevron were worth $5,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC grew its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new position in shares of Chevron during the 1st quarter valued at approximately $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron during the 1st quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $151.86 on Tuesday. The firm has a market cap of $262.42 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s fifty day moving average price is $156.12 and its 200-day moving average price is $148.31.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. Mizuho lowered their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $165.40.

Chevron Company 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.