Moody National Bank Trust Division Sells 711 Shares of Chevron Corporation $CVX

Moody National Bank Trust Division decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,868 shares of the oil and gas company’s stock after selling 711 shares during the period. Moody National Bank Trust Division’s holdings in Chevron were worth $3,561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Global Financial Private Client LLC increased its stake in shares of Chevron by 13.2% during the second quarter. Global Financial Private Client LLC now owns 24,272 shares of the oil and gas company’s stock valued at $3,475,000 after purchasing an additional 2,828 shares in the last quarter. ARS Wealth Advisors Group LLC increased its stake in shares of Chevron by 3.9% during the second quarter. ARS Wealth Advisors Group LLC now owns 123,475 shares of the oil and gas company’s stock valued at $17,680,000 after purchasing an additional 4,594 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Chevron during the second quarter valued at approximately $6,760,000. Ferguson Wellman Capital Management Inc. increased its stake in shares of Chevron by 1.8% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 744,153 shares of the oil and gas company’s stock valued at $106,555,000 after purchasing an additional 13,178 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new position in shares of Chevron during the second quarter valued at approximately $66,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $165.05.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.8%

Shares of CVX stock opened at $158.87 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $155.23 and its 200 day moving average is $148.98. The stock has a market capitalization of $274.52 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.01 and a beta of 0.90.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.